Chapter 18, Chapter 18

(a) An annuitant whose annuity was approved by the board effective after June 30, 1963, and before July 1, 1970, may receive, at his election, an annuity of two percent of his average final salary times his total service credit, plus deposits and tax sheltered annuities, but not …

As an additional supplement to other retirement allowances provided, each annuitant whose retirement allowance became effective during the respective dates indicated in this section shall receive, upon application, an increased amount, payable monthly, which is the product of his…

From an appropriation of General Revenue Funds made annually by the Legislature for this purpose and as an additional supplement to other retirement allowances, each annuitant whose retirement allowance became effective during the respective dates indicated in this section shall …

Any annuitant who is receiving a retirement annuity of less than $7,500 annually on the effective date of this section shall receive a supplemental benefit, prospectively, under this section: Provided, That the effective date of retirement for such annuitant was prior to July 1, …

Beginning on January 1, 1991, any annuitant who is receiving a retirement annuity on the effective date of this section shall receive a supplemental benefit, prospectively, if the effective date of retirement for such annuitant was prior to July 1, 1981, and such annuitant is not…

As an additional supplement to other retirement allowances provided, each annuitant whose annuity was approved by the retirement board prior to July 1, 1981, and such annuitant is not receiving supplemental benefits pursuant to section twenty-six-i of this article, shall receive …

As an additional supplement to other retirement allowances provided, each annuitant who retired between July 1, 1981, and July 1, 1982, shall receive a monthly amount equal to $2 multiplied by his or her total service credit.

As an additional supplement to other retirement allowances provided, each annuitant whose annuity was approved by the retirement board prior to July 1, 1982, and whose benefits were increased in the year 1990, pursuant to the provisions of section twenty-six-i of this article, sh…

(a) As an additional supplement to other retirement allowances provided, each annuitant whose annuity was approved by the retirement board prior to January 1, 1971, and who is receiving a monthly pension of $300 or less, shall receive a monthly amount equal to $1 multiplied by hi…

As an additional supplement to other retirement allowances provided, each annuitant who retired on or after July 1, 1984, and before July 1, 1986, shall receive a monthly amount equal to $2 multiplied by his or her total service credit.

As an additional supplement to other retirement allowances provided, each annuitant who retired before July 1, 1986, and who is receiving a monthly pension of $300 or less, shall receive a monthly total amount equal to $1 multiplied by his or her total service credit.

As an additional supplement to other retirement allowances provided, each annuitant who retired on or after July 1, 1986, and before April 1, 1988, shall receive a monthly amount equal to $2 multiplied by his or her total service credit.

As an additional supplement to other retirement allowances provided, each annuitant who retired before April 1, one thousand nine hundred eighty-eight, and who is receiving a monthly pension of $300 or less, shall receive a monthly total amount equal to $1 multiplied by his or he…

The Legislature hereby finds and declares that an important state interest exists in providing a minimum retirement annuity for certain retired members who are credited with twenty or more years of total service; that such program constitutes a public purpose; and that the exclus…

(a) A one-time supplement to retirement benefits shall be provided to retirees of this system who have: (i) Reached the specified age threshold; and (ii) have been in retirement status for the specified number of years, as follows: (1) For retirees who, as of July 1, 2001, are at…

(a) A one-time supplement to retirement benefits of three percent shall be provided to all retirees that are age seventy or older and have been annuitants for at least five consecutive years as of July 1, 2006, and beneficiaries of deceased members who would have been at least se…

(a) As an additional bonus payment to other retirement allowances provided, a one-time bonus payment to retirement benefits shall be paid to retirants of the retirement system as provided in subsection (b) of this section. The one-time bonus payment shall equal $600 and shall be …

(a) As an additional bonus payment to other retirement allowances provided, a one-time bonus payment to retirement benefits shall be paid to retirants of the retirement system as provided in subsection (b) of this section. The one-time bonus payment shall equal $1,200 and shall b…

(a) If the retirement annuity of a retirant (or applicable beneficiary thereof) with at least 25 years of total service is less than $750 per month (including any supplemental or additional benefits provided by this article), then the monthly retirement annuity for the retirant s…

(a) As an additional bonus payment to other retirement allowances provided, a one-time bonus payment to retirement benefits shall be paid to retirants of the retirement system as provided in subsection (b) of this section. The one-time bonus payment shall equal $1,500 and shall b…

(a) If the retirement annuity of a retirant (or applicable beneficiary thereof) at least 70 years of age with at least 25 years of total service as of July 1, 2023, is less than $1,000 per month (including any supplemental or additional benefits provided by this article), then th…

Regular interest shall be added to all sums, except for prior service, due and payable to beneficiaries under this article.

The retirement board is hereby authorized to offer plans, optional with the beneficiary, for the payment of allowances due such beneficiary for retirement, withdrawal or prior service pensions under the retirement system. No plans shall be offered, however, which are not approved…

Notwithstanding any other provision of this article or state law, the board shall administer the retirement system in compliance with the limitations of Section 415 of the Internal Revenue Code and regulations under that section to the extent applicable to governmental plans (her…

The requirements of this section apply to any distribution of a member’s or beneficiary’s interest and take precedence over any inconsistent provisions of this retirement system. This section applies to plan years beginning after December 31, 1986. Notwithstanding anything in the…

(a) Except where otherwise stated, this section applies to distributions made on or after January 1, 1993. Notwithstanding any provision of this article to the contrary that would otherwise limit a distributee's election under this system, a distributee may elect, at the time and…

(a) This section applies to rollovers and transfers as specified in this section made on or after January 1, 2002. Notwithstanding any provision of this article to the contrary that would otherwise prohibit or limit rollovers and plan transfers to this system, the retirement syst…

(a) The state shall not increase any existing benefits or create any new benefits for any retirees or beneficiaries currently receiving monthly benefit payments from the retirement system, other than an increase in benefits or new benefits effected by operation of law in effect o…

Any person who shall knowingly make any false statement or shall falsify or permit to be falsified any record or records of the retirement system in any attempt to defraud such system shall be guilty of a misdemeanor, and, upon conviction, be punished by a fine not exceeding $1,0…

The governing boards of state educational institutions shall have authority to provide retirement benefits for teachers and other employees who have served at the institutions under their control, to supplement benefits received by such employees under the state Teachers Retireme…

(a) In accordance with the provisions of this article, the Consolidated Public Retirement Board shall effect the voluntary transfer of members of the Teachers' Defined Contribution Retirement System to the state Teachers Retirement System. (b) If at least sixty-five percent of ac…

As used in this article, unless the context clearly requires a different meaning: "Accumulated contributions" means all deposits and all deductions from the gross salary of a contributor plus regular interest. "Accumulated net benefit" means the aggregate amount of all benefits p…

The teachers' defined contribution retirement system is hereby created and established to provide for the secure, fair and orderly retirement of the teachers and related personnel of the state. The defined contribution retirement system shall constitute a body corporate and all b…

The moneys in the various funds and the right of a member to a retirement allowance, to the return of contributions, or to any benefit under the provisions of this article, are hereby exempt from municipal tax; shall not be subject to execution, garnishment, attachment or any oth…

Any unexpended funds for teachers' retirement benefits, which were appropriated from general revenue prior to the enactment of this article, shall be credited and transferred to the reserve fund of the retirement system.

All previous acts and parts of acts inconsistent with this article are hereby repealed.

If any part of this article is declared unconstitutional, it shall not affect any portion which remains, but the remaining portions of the article shall be in full force and effect as if the portions declared unconstitutional had never been a part of the article.

(a) An actively contributing member of the retirement system upon written application may borrow from his or her individual account in the Teachers Retirement System, subject to these restrictions: (1) Loans shall be made in multiples of $10, the minimal loan being $100 and the m…

(a) Nonteaching employees shall mean all persons, except teachers, regularly employed for full-time service by the following educational agencies: (a) Any county board of education, (b) the state Board of Education, (c) the West Virginia board of regents, and (d) the Teachers' Re…

Any former member of the state Teachers Retirement System who was employed as a regular full-time employee in a nonteaching capacity by a Board of Education, school principal or school administrator, prior to the time he became eligible for membership in the state Teachers Retire…

Under the prior enactment of this section, the Legislature found and declared that a compelling state interest existed in providing a temporary, early retirement incentives program for encouraging the early, voluntary retirement of those public employees who were current, active,…

Whenever the board determines that (1) any person has knowingly made any false statement or falsified or permitted to be falsified any record or records of the retirement system in an attempt to defraud the system, or (2) any person who resumes employment with any governmental en…

If the retirement system is terminated or contributions are completely discontinued, the rights of all members to benefits accrued or contributions made to the date of such termination or discontinuance, to the extent then funded, are not forfeited.

(a) The Legislature finds that: (1) The Consolidated Public Retirement Board has determined that retired substitute teachers should not perform substitute teaching without limit; (2) The Consolidated Public Retirement Board has established, by rule, a maximum number of days in wh…

(a) There is hereby created in the state Treasury a special revenue account designated as the "Employee Pension and Health Care Benefits Fund" to be administered by the Department of Administration. Funds in this account may be invested in the manner permitted by the provisions o…

The retirement system is intended to meet the federal qualification requirements of Section 401(a) and related sections of the Internal Revenue Code as applicable to governmental plans. Notwithstanding any other provision of state law, the board shall administer the retirement sy…

(a) Commencing not later than April 1, two thousand eight, the board shall begin an educational program with respect to the voluntary transfer of actively contributing members of the Teachers' Defined Contribution Retirement System and their assets to the state Teachers Retiremen…

The provisions of this article shall be liberally construed so as to provide a general annuity based retirement system for teachers in this state. The purpose of this article is to provide a defined contribution retirement program which is fully funded on a current basis from emp…

The general administration and the management of the retirement system are hereby continued in a "Teachers' Retirement Board" through June 30, 1991, and thereafter, in the Consolidated Public Retirement Board created by article ten-d, chapter five of this code. The retirement boa…

Nothing in this article or article seven-b of this chapter shall be construed: (1) To be in conflict with section four-a, article twenty-three, chapter eighteen of this code; or (2) To affect the membership of higher education employees who are currently members of either the sta…