Teachers' Defined Contribution Retirement System. | Midpage

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West Virginia Code

7B

Teachers' Defined Contribution Retirement System.

18-7B-1Short title.18-7B-2Definitions.18-7B-3Defined contribution retirement system created and established; body corporate.18-7B-4Article to be liberally construed; purpose; federal qualification requirements.18-7B-5Administration of the teachers' defined contribution retirement system.18-7B-6Powers and duties of the consolidated board in the administration of the defined contribution system.18-7B-7Participation in Teachers' Defined Contribution Retirement System; limiting participation in existing Teachers Retirement System.18-7B-7aPlan closed to persons employed for the first time after June, 2005; former employees.18-7B-8Voluntary participation in system; expiration of right to elect membership in defined contribution system.18-7B-8aQualified military service.18-7B-9Members' contributions; annuity account established.18-7B-10Employer contributions.18-7B-11Termination of membership.18-7B-11aRollovers and transfers to repay cashed-out or withdrawn contributions.18-7B-12Retirement, commencement of annuity payments, payments under a qualified domestic relations order.18-7B-12aFederal minimum required distributions.18-7B-13Amount of annuity payments; federal law maximum benefit 18-7B-13bDirect rollovers.18-7B-14Supplemental annuity contracts.18-7B-15Account statements.18-7B-16Years of employment service.18-7B-17Deposits to the members' annuity accounts.18-7B-18Right to benefits not subject to execution, etc.; exception for qualified domestic relations orders.18-7B-19Benefits not forfeited if system terminates.18-7B-20Prohibition of involuntary cash-outs.18-7B-21Correction of errors; underpayments; overpayments.