WV HB4574 | 2008 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 14 2008 - 25% progression, died in committee
Action: 2008-02-14 - To House Pensions and Retirement
Pending: House Pensions & Retirement Committee

Summary

The purpose of this bill is to establish the Division of Corrections Retirement System to be administered by the Consolidated Public Retirement Board. The bill provides definitions; effective dates; federal qualification requirements; membership standards; required contributions from members and employers; the creation of the West Virginia Division of Corrections Retirement Fund; transfer from Public Employees Retirement System; time limits; notice requirement; commencement of benefits; providing for retirement credited through member's use of accrued annual or sick leave; providing retirement benefits; annuity options; providing for refunds in certain circumstances; deferred retirement; providing for forfeitures of benefits; providing awards and benefits for duty-related disability and for other causes; requiring physical examinations; establishing criteria for termination of disability; providing awards and benefits to surviving spouse and additional death benefits and scholarships for dependent children; providing for burial benefit; establishing exemption from taxation, garnishment and other process; authorizing certain deductions; establishing the effect of qualified domestic relation orders; prohibiting fraud and establishing penalties; requiring repayment in certain circumstances; providing for treatment of prior military service; establishing effective date of the system; providing voluntary employer participation; establishing starting date for benefits; and providing for no forfeiture of benefits if the system terminates.

Tracking Information

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Title

Relating to the Consolidated Public Retirement Board

Sponsors


History

DateChamberAction
2008-02-14 To House Pensions and Retirement
2008-02-14 Introduced in House
2008-02-14 To Pensions and Retirement then Finance
2008-02-14 Filed for introduction

Subjects


West Virginia State Sources


Bill Comments

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