A BILL to amend and reenact 5-10-2, 5-10-14, 5-10-17, and 5-10-48 of the Code of West Virginia, 1931, as amended, all. (f) A member who is participating in the system simultaneously as both a regular, full-time employee of a participating public employer and as an elected or appointed member of the legislative body of the state or any political subdivision may, upon meeting the age and service requirements of this article, elect to retire from his or her regular full-time state employment and may commence to receive an annuity from the system without terminating his or her position as a member of the legislative body of the state or political subdivision: That the retired member shall not, during the term of his or her retirement and continued service as a member of the legislative body of a political subdivision, be eligible to continue his or her participation as a contributing member of the system and shall not continue to accrue any additional service credit or benefits in the system related to the continued service. NOTE: If you become reemployed by an employer participating in this retirement system while your Certification of employment for a complete legislative session and for interim days shall be determined by the clerk of the house in which the employee served, based upon employment records. The Legislature further finds and declares that in many instances these employees have particularly valuable expertise which the Legislature cannot find elsewhere. Use Self Service to: View your account details. Other employees shall pay the states share and the employees share to purchase retroactive service credit. You will need to fill out a. . Employees of the State Legislature whose term of employment is otherwise classified as temporary and who are employed to perform services required by the Legislature for its regular sessions or during the interim time between regular sessions and who have been or are employed during regular sessions or during the interim time between regular sessions in seven consecutive five calendar years, as certified by the clerk of the house in which the employee served, shall receive service credit of six months for all regular sessions served, as certified by the clerk of the house in which the employee served, or shall receive service credit of three months for each regular 30-day session served prior to 1971: Provided, That employees of the State Legislature whose term of employment is otherwise classified as temporary and who are employed to perform services required by the Legislature for its regular sessions and who have been or are employed during the regular sessions in 13 consecutive seven calendar years as either temporary employees or full-time employees or a combination thereof, as certified by the clerk of the house in which the employee served, shall receive a service credit of 12 months for each regular session served, as certified by the clerk of the house in which the employee served: Provided, however, That the amendments made to this subsection during the 2002 regular session of the Legislature only apply to employees of the Legislature who are employed by the Legislature as either temporary employees or full-time employees as of January 1, 2002, or who become employed by the Legislature as temporary or full-time employees for the first time after January 1, 2002. Notwithstanding the provisions of this subsection, a member who is participating in the system as an elected public official may not retire from his or her elected position and commence to receive an annuity from the system and then be elected or reappointed to the same position unless and until a continuous 12-month period has passed since his or her retirement from the position: , That a former employee of the Legislature may not be reemployed by the Legislature on a per diem basis until at least 60 days after the employee has retired: That the limitation on compensation provided by subsection (c) of this section does not apply to the reemployed former employee: That in no event may reemployment by the Legislature of a per diem employee exceed 175 days per calendar year. The board shall have final power to decide whether the payments shall be considered compensation for purposes of this article; (11) "Employee" means any person who serves regularly as an officer or employee, full time, on a salary basis, whose tenure is not restricted as to temporary or provisional appointment, in the service of, and whose compensation is payable, in whole or in part, by any political subdivision, or an officer or employee whose compensation is calculated on a daily basis and paid monthly or on completion of assignment, including technicians and other personnel employed by the West Virginia National Guard whose compensation, in whole or in part, is paid by the federal government: , That an employee of the Legislature whose term of employment is otherwise classified as temporary and who is employed to perform services required by the Legislature for its regular sessions or during the interim between regular sessions and who has been or is employed during regular sessions or during the interim between regular sessions in. The CPRB administers: PERS: Public Employees Retirement System, PERS Tier II, TRS: Teachers' Retirement System, TRS Tier II, TDC Plan: Teachers' Defined Contribution System. (h) The provisions of 5-10-22h of this code are not applicable to the amendments made to this section during the 2006 regular session. hbbd```b`` 3Xf/`v=`3.HA`hHd2c 0;D'/&0[l0;D7d`bd` b`q Forgot User ID or Password? The State of West Virginia offers an outstanding defined benefit pension plan - the Public Employees Retirement System (PERS) under the Consolidated Public Retirement Board. *C&(J]Qt(!jrgfCh`%&]#$mim2*u64UL)] The CPRB administers 10 different plans: PERS: Public Employees Retirement System PERS Tier II TRS: Teachers' Retirement System TRS Tier II TDC Plan: Teachers' Defined Contribution System PLAN A: WV State Police Death, Disability and Retirement Fund PLAN B: West Virginia State Police Retirement System DSRS: Deputy Sheriffs' Retirement System WV Department of Administration Finance Division > Shared Services > Payroll Payroll Payroll strives to provide friendly, courteous, and knowledgeable support to State agencies within the Department of Administration. The remaining 21.75 percent state contribution is to pay down the pension fund's debt. d~MZl%T bBJ(a^Y@y0i?vDpX %c I^f_p.fl0;6To^ H7y=zm0 JJHtft:[T@R3wAP OcJ \H_W~:0~\M+&Y J1}V&&U*s~{;Fca:l]4s KBrnlsDst!K]+KId$rPRYoKA<9OHG]Xx%04LZiNQ%}=h9KY!MlU$~b7"( Where an employee purchases service credit for employment which occurred after 1988, that employee shall pay for the employees share and the employer shall pay its share for the purchase of retroactive service credit: , That no legislative employee and no current or former member of the Legislature may be required to pay any interest or penalty upon the purchase of retroactive service credit in accordance with the provisions of this section where the employee was not eligible to become a member during the years for which he or she is purchasing retroactive credit or had the employee attempted to contribute to the system during the years for which he or she is purchasing retroactive service credit and the contributions would have been refused by the board: , That a current legislative employee purchasing retroactive credit under this section shall do so within 24 months of beginning contributions to the retirement system as a legislative employee or no later than December 31, 2016, whichever occurs later: , That once a legislative employee becomes a member of the retirement system, he or she may purchase retroactive service credit for any time he or she was employed by the Legislature and did not receive service credit. 729 0 obj <> endobj Teachers Retirement System, West Virginia Public Employees Retirement System and Federal Retirement Systems (Title 4 USC 111). (b) The board of trustees shall grant service credit to any former and present member of the State Teachers Retirement System who has been a contributing member in the Public Employees Retirement System for more than three years, for service previously credited by the State Teachers Retirement System and shall require the transfer of the members accumulated contributions to the system and shall also require a deposit, with reinstatement interest as set forth in the boards Rule, Refund, Reinstatement, Retroactive Service, Loan and Correction of Error Interest Factors, 162 C. S. R. 7, of any withdrawals of contributions any time prior to the members retirement: Provided, That members of the State Teachers Retirement System who first became a member of the State Teachers Retirement System on or after July 1, 2022, may only transfer service credit to the Public Employees Retirement System if they first became a member of the Public Employees Retirement System on or after July 1, 2015. Pension Credit Expansion to Cost W.Va. $197 Million. Fax (304) 957-7522 That depends on your retirement date and when your final documents are received and processed by CalPERS. When your dependents become Medicare Eligible,pleasesendacopyoftheirMedicarecardintoPEIA. Employment at the West Virginia Department of Education (WVDE) provides eligible employees with an array of benefit plans that promote health and help you build financial resources for retirement. You must have Medicare parts A and B. Subsequent to your hire are other issues that affect how much of your salary you bring home. Certification of employment for a complete legislative session and for interim days shall be determined by the clerk of the house in which the employee served, based upon employment records. If you are Medicare Eligible and currently on The Health Plan when you retire, you and your dependents will be switched to the PEIA PPB Plan A upon retirement. PERF Pension Payment Dates. Repayment of withdrawals shall be as directed by the Board of Trustees. In the purchase of service credit for employment prior to 1989 in any department, including the Legislature, which operated from the General Revenue Fund and which was not expressly excluded from budget appropriations in which blanket appropriations were made for the states share of public employees retirement coverage in the years prior to 1989, the employee shall pay the employees share. The first payment can take up to 30-45 calendar days from your retirement date or the date your application is received, whichever is later. Click here to see how long it's taking these days -Retiree Self Service Available (a) The Legislature finds that a compelling state interest exists in maintaining an actuarially sound retirement system and that this interest necessitates that certain limitations be placed upon an individuals ability to retire from the system and to then later return to state employment as an employee with a participating public employer while contemporaneously drawing an annuity from the system. Bureau for Child Support Enforcement. Based on our analysis of West Virginia's teacher retirement plan, it earned an overall grade of F. West Virginia earned a F for providing adequate retirement benefits for teachers and a F on . Taxable amount of retirement income reported on federal return. If you wish to elect new or increased life insurance as a retired employee, you must enroll and submit medical information during the calendar month of retirement or the two following calendar months. The membership of the retirement system consists of the following persons: (a) All employees, as defined in 5-10-2 of this code, who are in the employ of a political subdivision the day preceding the date it becomes a participating public employer and who continue in the employ of the participating public employer on and after that date shall become members of the retirement system; and all persons who become employees of a participating public employer on or after that date shall thereupon become members of the system; except as provided in subdivisions (b), (c) and (d) of this section. (29) "State" means the State of West Virginia. endstream endobj 730 0 obj <>/Metadata 156 0 R/Pages 727 0 R/StructTreeRoot 327 0 R/Type/Catalog>> endobj 731 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]>>/Rotate 0/StructParents 0/Tabs/W/Type/Page>> endobj 732 0 obj <>stream These payments include, but are not limited to, attendance or performance bonuses, one-time flat fee or lump sum payments, payments paid as a result of excess budget, or employee recognition payments. This retirement program is similar to a 401(k) plan in structure except that it is designed to supplement a participant's primary retirement plan. Login. calendar years referenced in this section: , That the employee has not retired prior to the effective date of the amendments made to this section in the 2002 regular session of the Legislature. The West Virginia State Police Retirement System, commonly referred to as Plan B, was established by the enactment of Chapter 15, Article 2A of the West Virginia Code during the 1994 Legislative Session for all state troopers hired on or after March 12, 1994. (c) Court reporters who are acting in an official capacity, although paid by funds other than the county commission or State Auditor, may receive prior service credit for time served in that capacity. Subsequent to your hire are other issues that affect how much of your salary you bring home. Insurance is complicated enough, therefore, this website is here to help you navigate the transition from active employee to retiree with or without PEIA coverage., *Retiree Premium Payment and Enrollment Information *Retiree FAQs* Termination Form*Retiree Optional and/or Dependent Life Enrollment Form* (f) Any individual who is a leased employee is not eligible to participate in the system. Associated Press. Please contact your agency Human Resources or Payroll Office for questions on this topic. If you choose to move directly to Humana, you will need to call PEIA at 1-888-680-7342 and request a transfer form. 0 (c) If a retirant becomes regularly employed on a full-time basis by a participating public employer, payment of his or her annuity shall be suspended during the period of his or her reemployment and he or she shall become a contributing member to the retirement system. A state actuary says expanding military service credits for public employees' pension benefits will cost more than $197 million.A report by Consolidated. Congratulations from PEIA on your retirement! endstream endobj 11 0 obj <> endobj 12 0 obj <> endobj 13 0 obj <>stream Health, Mountaineer Flexible, Life Insurance -CPRB Tip Hotline (d) Active members who previously worked in Comprehensive Employment and Training Act (CETA) may receive service credit for time served in that capacity: , That in order to receive service credit under the provisions of this subsection the following conditions must be met: (1) The member must have moved from temporary employment with the participating employer to permanent full-time employment with the participating employer within 120 days following the termination of the members CETA employment; (2) the board must receive evidence that establishes to a reasonable degree of certainty as determined by the board that the member previously worked in CETA; and (3) the member shall pay to the board an amount equal to the employer and employee contribution plus interest at the amount set by the board for the amount of service credit sought pursuant to this subsection: , That the maximum service credit that may be obtained under the provisions of this subsection is two years: , That a member must apply and pay for the service credit allowed under this subsection and provide all necessary documentation by March 31, 2003: , That the board shall exercise due diligence to notify affected employees of the provisions of this subsection. 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