West Virginia Public Employees Retirement Act. | MidpageWest Virginia Public Employees Retirement Act.
5-10-1Short title.5-10-2Definitions.5-10-3Retirement system created and established; body corporate.5-10-3aArticle to be liberally construed; supplements federal social security; federal qualification requirements.5-10-4Effective date of system.5-10-5Board of trustees created; powers and duties generally; composition.5-10-6Trustees' terms of office.5-10-7Vacancies on board.5-10-8Trustees' compensation and expenses.5-10-9Chairman and vice chairman; executive secretary; employees; treasurer; legal advisor; actuary.5-10-10Board meetings; quorum; vote; proceedings.5-10-11Reports required of board.5-10-12Officer and employee bonds.5-10-13Actuarial investigations and valuations; specification of actuarial assumptions.5-10-14Service credit; retroactive provisions.5-10-15Military service credit; qualified military service.5-10-15aRetirement credited service through member's use, as option, of accrued annual or sick leave days.5-10-15bCredit for public employment in another state.5-10-15cMilitary service credit for members of the West Virginia National Guard.5-10-16When and how political subdivision becomes participating public employer.5-10-17Retirement system membership.5-10-18Termination of membership; reentry.5-10-19Employers to file information as to employees’ service and reemployment of retirants.5-10-20Voluntary retirement.5-10-21Deferred retirement and early retirement.5-10-21aDeferred retirement and early retirement for new members as of July 1, 2015.5-10-22Retirement annuity.5-10-22aSupplemental benefits for certain annuitants.5-10-22bSupplemental benefits for certain annuitants.5-10-22cTemporary early retirement incentives program; legislative declaration and finding of compelling state interest and public purpose; specifying eligible and ineligible members for incentives program; options, conditions, and exceptions; certain positions abolished; special rule of eighty; effective, termination, and notice dates.5-10-22dSupplemental benefits for certain annuitants.5-10-22eSupplemental benefits for retirees effective July 1, 1994; calculation of benefits and conditions of payment.5-10-22fMinimum benefit for certain retirants; legislative declaration; state interest and public purpose.5-10-22gOne-time supplement for certain annuitants effective July 1, 2001.5-10-22hLimitations on benefit increases.5-10-22iOne-time supplement for certain annuitants effective July 1, 2006.5-10-22jOne-time bonus payment for certain annuitants effective July 1, 2008.5-10-22kOne-time bonus payment for certain annuitants effective July 1, 2011.5-10-22lMinimum benefit for certain retirants.5-10-22mOne-time bonus payment for certain annuitants.5-10-22nMinimum benefit for certain annuitants.5-10-23Terminal payment following retirement.5-10-24Annuity options.5-10-25Disability retirement.5-10-26Reexamination of disability retirants; reemployment; adjustment of annuity for earnings.5-10-27Preretirement death annuities.5-10-27aFederal law maximum benefit limitations.5-10-27bFederal law minimum required distributions.5-10-27cDirect rollovers.5-10-27dRollovers and transfers to purchase service credit or5-10-28Unified accounting; funds.5-10-29Members' deposit fund; members' contributions; forfeitures.5-10-30Refund of accumulated contributions.5-10-31Employers Accumulation Fund; employers contributions.5-10-31aRetroactive contributions to the retirement system for retroactive service credit granted; one year period for application.5-10-32Appropriations for state contributions to retirement system; contributions for members paid from special funds or by other employers.5-10-33Contributions by other participating public employers; withholding state money to satisfy delinquencies.5-10-34Transfers to retirement reserve fund.5-10-35Retirement reserve fund created; transfers from fund on reemployment.5-10-36Income fund.5-10-38Investment of moneys; bonds of state departments and institutions to be offered first to board of public works.5-10-39No trustee, etc., shall gain from investments of system.5-10-40Restricted use of retirement system moneys.5-10-41Allowance of regular interest on balances in funds.5-10-42Fiscal or plan year of retirement system.5-10-43Pro rata reduction of annuities.5-10-44Correction of errors; underpayments; overpayments.5-10-45Fraud; penalty.5-10-46Right to benefits not subject to execution, etc.; assignments prohibited; deductions for group insurance; setoffs for fraud; exception for certain domestic relations orders.5-10-47Benefits exempt from taxes.5-10-48Reemployment after retirement; options for holder of elected public office.5-10-49Removal from office.5-10-50Severability.5-10-51Withdrawal.5-10-52Specific provisions relating to certain members of the Legislature and certain service by members of the Legislature.5-10-52aSpecific provisions relating to certain staff members participating in the Public Employees Retirement System employed by Hopemont Hospital, Jackie Withrow Hospital, John Manchin Sr. Health Care Center, and Lakin State Hospital.5-10-53Joint study of state retirement systems; report to Joint Committee on Government and Finance by specified date of study conclusions.5-10-54Termination of benefits; procedure.5-10-55Benefits not to be forfeited if system terminates.