Introduced Version
House Bill 2266 History
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Key: Green = existing Code. Red = new code to be enacted
H. B. 2266
(By Delegates Perry and P. Smith)
[Introduced February 13, 2013; referred to the
Committee on Pensions and Retirement then Finance.]
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §5-10-22l; and to
amend said code by adding thereto a new section, designated
§18-7A-26w, all relating to providing a yearly bonus payable
in July of every year starting in 2013 for retired public
school teachers and state retirees.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §5-10-22l; and that
said code be amended by adding thereto a new section, designated
§18-7A-26w, all to read as follows:
CHAPTER 5. GENERAL POWERS AND AUTHORITY OF THE GOVERNOR, SECRETARY
OF STATE AND ATTORNEY GENERAL; BOARD OF PUBLIC WORKS; MISCELLANEOUS
AGENCIES, COMMISSIONS, OFFICES, PROGRAMS, ETC.
ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.
§5-10-22l. Yearly bonus payment for certain annuitants effective
__July 1, 2013.
_____(a) As an additional bonus payment to other retirement
allowances provided, a yearly bonus payment to retirement benefits
shall be paid to retirants of the system as provided in subsection
(b) of this section. The yearly bonus payment shall be paid in
July of each year, starting in 2013.
_____(b) The yearly bonus payment provided in this section applies
to any retirant who had retired pursuant to this article or any
applicable predecessor of this article. Those retirants who had
retired before 1960 shall receive a yearly bonus payment of $300.
Those retirants who had retired between the years 1960 and 1980
shall receive a yearly bonus payment of $150. Those retirants who
had retired after the year 1980 shall receive a yearly bonus of
$100. This yearly bonus payment is subject to any applicable
limitations under Section 415 of the Internal Revenue Code of 1986,
as amended.
_____(c) The yearly bonus payment provided by this section shall be
payable pro rata to any beneficiaries of a qualifying retirant who
currently receive an annuity or other benefit payable by the
retirement system.
CHAPTER 18. EDUCATION.
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.
§18-7A-26w. Yearly bonus payment for certain annuitants
effective July 1, 2013.
_____(a) As an additional bonus payment to other retirement
allowances provided, a yearly bonus payment to retirement benefits
shall be paid to retirants of the retirement system as provided in
subsection (b) of this section. The yearly bonus shall be paid in
July of each year, starting in 2013.
_____(b) The yearly bonus payment provided in this section applies
to any retirant who had retired pursuant to this article or any
applicable predecessor of this article. Those retirants who had
retired before 1960 shall receive a yearly bonus payment of $300.
Those retirants who had retired between the years 1960 and 1980
shall receive a yearly payment of $150. Those retirants who had
retired after the year 1980 shall receive a yearly bonus of $100.
This yearly bonus payment is subject to any applicable limitations
under Section 415 of the Internal Revenue Code of 1986, as amended.
_____(c) The yearly bonus payment provided by this section shall be
payable pro rata to any beneficiaries of a qualifying retirant who
currently receive an annuity or other benefit payable by the
retirement system.
NOTE: The purpose of this bill is to provide a yearly bonus
payable in July of every year starting in 2013 for retired public
school teachers and state retirees.
These sections are new; therefore, they have been completely
underscored.