Source: http://www.wvlegislature.gov/bill_status/bills_text.cfm?billdoc=hb2266%20intr.htm&yr=2013&sesstype=RS&i=2266
Timestamp: 2018-03-17 16:59:47
Document Index: 393496853

Matched Legal Cases: ['§5', '§18', '§5', '§18', '§5', '§18']

HB 2266 Text
Introduced Version House Bill 2266 History
hb2266 intr
H. B. 2266
(By Delegates Perry, Moore, P. Smith and Stowers)
A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §5-10-22l; and to amend said code by adding thereto a new section, designated §18-7A-26w, all relating to providing a yearly bonus payable in July of every year starting in 2013 for retired public school teachers and state retirees.
That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §5-10-22l; and that said code be amended by adding thereto a new section, designated §18-7A-26w, all to read as follows:
§5-10-22l. Yearly bonus payment for certain annuitants effective __July 1, 2013.
_____(a) As an additional bonus payment to other retirement allowances provided, a yearly bonus payment to retirement benefits shall be paid to retirants of the system as provided in subsection (b) of this section. The yearly bonus payment shall be paid in July of each year, starting in 2013.
_____(b) The yearly bonus payment provided in this section applies to any retirant who had retired pursuant to this article or any applicable predecessor of this article. Those retirants who had retired before 1960 shall receive a yearly bonus payment of $300. Those retirants who had retired between the years 1960 and 1980 shall receive a yearly bonus payment of $150. Those retirants who had retired after the year 1980 shall receive a yearly bonus of $100. This yearly bonus payment is subject to any applicable limitations under Section 415 of the Internal Revenue Code of 1986, as amended.
_____(c) The yearly bonus payment provided by this section shall be payable pro rata to any beneficiaries of a qualifying retirant who currently receive an annuity or other benefit payable by the retirement system.
§18-7A-26w. Yearly bonus payment for certain annuitants effective July 1, 2013.
_____(a) As an additional bonus payment to other retirement allowances provided, a yearly bonus payment to retirement benefits shall be paid to retirants of the retirement system as provided in subsection (b) of this section. The yearly bonus shall be paid in July of each year, starting in 2013.
_____(b) The yearly bonus payment provided in this section applies to any retirant who had retired pursuant to this article or any applicable predecessor of this article. Those retirants who had retired before 1960 shall receive a yearly bonus payment of $300. Those retirants who had retired between the years 1960 and 1980 shall receive a yearly payment of $150. Those retirants who had retired after the year 1980 shall receive a yearly bonus of $100. This yearly bonus payment is subject to any applicable limitations under Section 415 of the Internal Revenue Code of 1986, as amended.
NOTE: The purpose of this bill is to provide a yearly bonus payable in July of every year starting in 2013 for retired public school teachers and state retirees.
These sections are new; therefore, they have been completely underscored.