§5-10-43. Pro rata reduction of annuities.
Any provision in this article to the contrary notwithstanding,
if at the end of any fiscal year the total of the annuities paid
from the retirement reserve fund during the said fiscal year is
more than ten percent of the sum of the balances in the employers
accumulation fund and the retirement reserve fund at the end of the
said fiscal year, the said annuities payable in the next ensuing
fiscal year shall be reduced, pro rata, so that the sum of the
annuities so reduced shall not exceed ten percent of the sum of the
said balances in the employers accumulation fund and the retirement
reserve fund. The said pro rata reduction shall be applied to all
annuities payable in the said ensuing fiscal year.
Note: WV Code updated with legislation passed through the 2014 1st Special Session
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