SENATE CONCURRENT RESOLUTION NO. 71

(By Senators Foster, Jenkins, McCabe, Plymale, Hall and Nohe)

[Originating in the Committee on Pensions]

Requesting the Joint Committee on Government and Finance to study future legislation relating to establishing an additional tier retirement for Public Employees Retirement System and Teachers Retirement System and changing the employee contribution amount and the benefits in the state retirement systems.

    Whereas, The State of West Virginia values the contributions of its employees and the employees of its political subdivisions; and

    Whereas, The State of West Virginia demonstrates its regard for the contributions of its employees and the employees of its political subdivisions by offering a generous retirement benefit; and

    Whereas, The Legislature finds that the contribution rate for new employees of the state and its political subdivisions should be reviewed for increase; and

    Whereas, The benefits for new employees should be reviewed for consistency; therefore, be it

    Resolved by the Legislature of West Virginia:

    That the Legislature hereby requests the Joint Committee on Government and Finance to study future legislation relating to establishing an additional tier retirement for Public Employees Retirement System and Teachers Retirement System and changing the employee contribution amount and the benefits in the state retirement systems; and, be it

    Further Resolved, That the Joint Committee on Government and Finance is hereby requested to study establishing a second tier for newly hired employees from the Public Employees Retirement System and Teachers Retirement System, including benefits and contributions; and, be it

    Further Resolved, That the Joint Committee on Government and Finance report to the regular session of the Legislature, 2013, on its findings, conclusions and recommendations together with drafts of any legislation necessary to effectuate its recommendations; and, be it

    Further Resolved, That the expenses necessary to conduct this study, to prepare a report and to draft necessary legislation be paid from legislative appropriations to the Joint Committee on Government and Finance.