HB2505 HFIN FBM                                        HOUSE COMMITTEE ON FINANCE

FLOOR BOOK MEMO

H. B. 2505 (Relating to retirement system participation and concurrent employment provisions.)

Sponsors:                Delegates Canterbury, Pethtel, Folk, Walters, Hamilton, Marcum, Kurcaba and Hicks

Attorney:                AC 

Date:            February 18, 2015

Title:            Ok

Actuarial & Fiscal Note:      Yes

Code:  §5-10-17;§7-14D-5 §8-22A-6; §15-2A-3; §16-5V-6; §18-7A-13 (amend)

Purpose: The bill would amend the provisions of the WV Code providing for the various retirement systems administered by the WV Consolidated Public Retirement Board (CPRB). The bill provides how to determine which retirement system an employee must be a member of when the employee is concurrently employed in two or more jobs that would require participation in different retirement systems. The provisions relating to concurrent employment in the WV Deputy Sheriff Retirement System (DRS), the WV Emergency Services Retirement System (EMS), and the WV Municipal Police and Firefighters Retirement System (MPFRS) are amended to provide that in this situation, the provisions of the retirement system relating to the job the employee held first are the provisions that would govern and that the employee be a member of only one retirement system administered by the CPRB. The provisions of the WV Public Employees Retirement System, Teachers Retirement System and State Police Plan B are amended to provide that when a member of one of these systems is concurrently employed in a position that would require the member to also be a member of DRS, EMS or MPFRS, the provisions of the code relating to those systems would govern and that the employee would only be a member of one retirement system administered by the CPRB.

Notes: This bill was requested for introduction by the WV Consolidated Retirement Board. It was reported out by the Committee on Pensions and Retirement without amendment.

Committee Action: The Committee on Finance reported a Committee Substitute that includes the provisions of HB2507 in §8-22A-6 to avoid a code conflict.

Effective Date:       Regular