West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-04 - Teachers' Retirement System › Section 162-4-2 - Definitions

Current through Register Vol. XLI, No. 28, July 12, 2024
2.1. "Accumulated contributions" means all
				employee retirement deductions from the gross salary of a member, plus regular
				interest.
2.2. "Board" means the
				West Virginia Consolidated Public Retirement Board.
2.3. "Disabled" means the inability to
				substantially do all the material acts necessary in the performance of assigned
				duties, by reason of a total and likely to be permanent physical or mental
				impairment, in the usual or customary manner for a period of six (6) months
				beginning with the last day of service.
2.4. "Gross salary" means the fixed annual or
				periodic cash wages paid by a participating public employer to a member for
				performing duties for the participating public employer for which the member
				was hired. Gross salary shall also include retroactive payments made to a
				member to correct a clerical error, or pursuant to a court order or final order
				of an administrative agency charged with enforcing federal or state law
				pertaining to the member's rights to employment or wages, with all such
				retroactive salary payments to be allocated to and deemed paid in the periods
				in which the work was or would have been done. Gross salary shall not include
				lump sum payments for bonuses, early retirement incentives, severance pay, or
				any other fringe benefit of any kind including, but not limited to,
				transportation allowances, automobiles or automobile allowances, or lump sum
				payments for unused, accrued leave of any type or character.
2.5. "Money purchase annuity" means that
				portion of total monthly benefits from the member's contributions plus state
				matching plus interest, times the actuarial factor for attained age.
2.6. "Monthly benefit" means the total
				monthly payment, including a member's money purchase annuity, received by a
				retiree based upon the option chosen.
2.7. "Option" means the form of benefit
				payments to the member and the member's beneficiary which shall be the
				actuarial equivalent of the normal benefit payable to the member
				only.
2.8. "Prior service" means
				service performed before the date the member became eligible to make
				contributions.
2.9. "Retirant"
				means any member who commences an annuity payable by the retirement system.
2.10. "Retirement system" means
				the Teachers' Retirement System as provided in West Virginia Code §
									18-7A-1
				et seq.
2.11. "Schools" means all
				educational units supported by moneys appropriated by the West Virginia
				Legislature.
2.12. "Substitute
				teacher" means any teacher who is assigned (1) to fill the temporary absence of
				any teacher or for the unexpired school term made vacant by the resignation,
				transfer, death, suspension or dismissal of any teacher, (2) to fill a teaching
				position of a regular teacher on leave of absence or (3) to perform
				instructional services of any teacher who is authorized by law to be absent
				from class with loss of pay, providing the absence is approved by the Board of
				Education in accordance with the law. The substitute shall be a duly certified
				teacher.