reglab/statecodes huggingface dataset:
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-13 - Employee Membership in Retirement System

Current through Register Vol. XLI, No. 28, July 12, 2024
13.1.
				Employees of boards of education, colleges or universities. -- Any employee or
				person whose salary or compensation is paid in whole, or substantially in part,
				by any college, university, county board of education, State Department of
				Education, State Board of Education or State Teachers' Retirement System is not
				entitled to membership in the West Virginia Public Employees Retirement System
				while employed in that capacity unless they are a member of a legislative body
				of a political subdivision that is a participating public employer as provided
				in W. Va. Code §
									5-10-17. Elected members of County
				Commissions, City Councils, Boards of Education, and Mayors are considered
				members of a legislative body of a political subdivision.
13.2. Employees of cooperative associations
				under direction of the Department of Agriculture. -- Employees of cooperative
				associations under the supervision of the Department of Agriculture, whose
				compensation is payable by the cooperative association are not entitled to
				membership in the Retirement System for that employment.
13.3. Registrars of Division of Vital
				Statistics. -- Those employees of counties furnishing statistical information
				to the Department of Health and Human Services whose job is considered
				full-time, or whose position is considered one which normally requires twelve
				(12) months of service and at least one thousand forty (1,040) hours per
				calendar year service in that position, shall become members of the Retirement
				System.
13.4. Deputy Commissioners
				of Delinquent and Forfeited Lands. -- The various Deputy Commissioners for
				Delinquent and Forfeited Lands, by reason of that appointment are not entitled
				to membership in the Retirement System for that employment.
13.5. Other retirement system membership. --
				Any employee of a participating public employer who is eligible for membership
				in another retirement system of a political body is not eligible for membership
				in the West Virginia Public Employees Retirement System, except as provided in
				W. Va. Code §
									5-10-17.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-14 - Participating After July 1, 1961

Current through Register Vol. XLI, No. 28, July 12, 2024
14.1.
				Employees of any participating public employer, including, but not limited to,
				hourly employees of the State Division of Highways who were eligible to
				participate July 1, 1961, shall not receive service credit during the period
				July 1, 1961, until the date on which the employee actually commenced
				participation by contribution to the Retirement System; however, during that
				period they shall be considered to be members of the Retirement System for all
				other purposes.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-15 - Employer Termination of Membership

Current through Register Vol. XLI, No. 28, July 12, 2024
15.1. Once an
				employer, whether a municipality, county or public corporation, elects to
				participate in the Retirement System, the action of the municipality, county or
				public corporation is final and it may not, at a later date, elect to terminate
				its participation in the Retirement System.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-16 - Approval of Applications for Voluntary Retirement and Death Annuities by the Board

Current through Register Vol. XLI, No. 28, July 12, 2024
16.1. Commencement of annuity. The State
				Auditor and State Treasurer may pay continuing monthly annuities to retirants,
				beneficiaries of retirants and beneficiaries of deceased members, after the
				Board has:
16.1.a. Approved the date of birth
				of the member, retirant or beneficiary;
16.1.b. Approved the prior and contributing
				service the member is entitled to;
16.1.c. Approved the date of the death of a
				member in the event of his or her death;
16.1.d. Complied with the other provisions of
				this Rule; and
16.1.e. Submitted
				the proper transmittals to the State Auditor's and the State Treasurer's
				office.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-17 - Reduction of Annuities on Request of Retirant

Current through Register Vol. XLI, No. 28, July 12, 2024
17.1. A
				retirant is not entitled to elect a reduced annuity except as provided for in
				W. Va. Code §
									5-10-24.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-18 - Early Retirement

Current through Register Vol. XLI, No. 28, July 12, 2024
18.1.
				Eligibility. Any member who acquires ten (10) years or more of credited service
				with the Retirement System, three (3) years or more of which are contributing
				service, and has terminated his or her employment after attaining age
				fifty-five (55), but before attaining age sixty (60), may be entitled to an
				actuarially reduced annuity pursuant to W. Va. Code §
									5-10-21: Provided, That the member
				makes application for retirement on or before he or she attains age sixty-two
				(62).
18.2. Recalculation of early
				retirement factor after reemployment period. The Board shall treat any member
				who retires early pursuant to W. Va. Code §
									5-10-21, and is subsequently
				reemployed by a participating public employer of the Retirement System, and who
				again retires, for purposes of the determination of the newly applicable early
				retirement factor, as if he or she were retiring at an age calculated by adding
				to this original early retirement age the number of years and months during
				which he or she was reemployed. In the event that the artificially determined
				age exceeds sixty (60), the Board shall not make any reduction for early
				retirement.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-20 - Military Service Credit

Current through Register Vol. XLI, No. 28, July 12, 2024
20.1. Credit
				for military service shall be made in accordance with the provisions of W. Va.
				Code §
									5-10-15. Any member applying for
				retirement benefits who is claiming service credit pursuant to W. Va. Code
				§
									5-10-15, shall present to the
				Retirement System an original or copy of his or her discharge from the service
				or other appropriate documents required by the Board to comply with the
				provisions of W. Va. Code §
									5-10-15.
20.2. Any member who is eligible for military
				service credit as provided in W. Va. Code §
									5-10-15, shall receive one calendar
				month of service credit for each calendar month in which he or she served 15
				days or more in active duty of the Armed Forces of the United States: Provided,
				That the member is not otherwise receiving service credit for that
				month.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-21 - Refund of Contributions Where an Annuity May Be Payable

Current through Register Vol. XLI, No. 28, July 12, 2024
21.1.
				Any member of the Retirement System who terminates employment after attaining
				age sixty (60) and who has five (5) or more years contributing service, and is
				otherwise entitled to an annuity payable from the Retirement System, is not
				eligible for a refund of accumulated contributions made to the Retirement
				System, but, in lieu therefore, is entitled to a monthly annuity payable
				pursuant to W. Va. Code §
									5-10-20.
21.2. Any member of the Retirement System who
				terminates employment before attaining age sixty (60) and who is otherwise
				entitled to a regular annuity payable from the Retirement System at the time of
				his or her application for a refund, is not eligible for a refund of
				accumulated contributions made to the Retirement System, but, in lieu thereof,
				is entitled to a monthly annuity payable pursuant to W. Va. Code §
									5-10-20.
21.3. Any member of the Retirement System who
				terminates employment before attaining age sixty (60) and who is not
				immediately entitled to a regular annuity payable from the Retirement System,
				even though he or she may be entitled to deferred benefits, is entitled to a
				refund of accumulated contributions upon written application filed with the
				Retirement System.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-22 - Refund of Contributions

Current through Register Vol. XLI, No. 28, July 12, 2024
22.1. A
				member of the Retirement System who terminates his or her employment with a
				participating public employer without an annuity payable is entitled to a
				refund of his or her contributions made to the Retirement System thirty (30)
				days after he or she last appeared on an official payroll of the State of West
				Virginia or other participating public employer, following the filing of a
				report from the employee's payroll office.
22.2. Any member who terminates his or her
				employment with a participating public employer and accepts employment with
				another participating public employer within thirty (30) days from the date the
				member last appeared on an official payroll of any participating public
				employer is not entitled to a refund of contributions made to the Retirement
				System.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-23 - Employer's Election to Participate after a Member has Retired

Current through Register Vol. XLI, No. 28, July 12, 2024
23.1. If a retirant is employed by a
				non-participating employer, which subsequently elects to become a participating
				employer, the Board's staff shall act in accordance with W. Va. Code §
									5-10-48. The retirant is not
				eligible to purchase retroactive service credit for the period in which the
				retirant was receiving a monthly annuity.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-24 - Employment by Retirants with Participating Public Employers

Current through Register Vol. XLI, No. 28, July 12, 2024
24.1.
				Any retirant who accepts employment with a participating public employer for a
				limited period of time and who is not considered in any way a permanent or
				regular employee is a temporary employee within the meaning of W. Va. Code
				§
									5-10-2 and the employee shall not
				be a member of the Retirement System.
24.2. Any retirant drawing an annuity may
				accept temporary full-time employment, temporary part-time employment, or
				permanent part-time employment with a participating public employer: Provided,
				That his or her compensation does not exceed the limitation established by W.
				Va. Code §
									5-10-48. If the calendar year
				compensation limit is exceeded, the Board shall suspend the retirant's monthly
				annuity for the balance of the calendar year, and accordingly shall prorate the
				month in which the compensation limit is exceeded.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-25 - Member Receiving Workers' Compensation

Current through Register Vol. XLI, No. 28, July 12, 2024
25.1. Any
				member of the Retirement System who is injured or suffers a disease growing out
				of the course of his or her employment with a participating public employer and
				who is receiving Workers' Compensation benefits shall receive credited service
				toward his or her retirement: Provided, That the member physically returns to
				employment with a participating public employer upon recovery of his or her
				injury or disease.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-26 - Deputy Assessors - Service Credit

Current through Register Vol. XLI, No. 28, July 12, 2024
26.1. Deputy
				assessors shall receive credited service for actual time for which they are
				compensated, however, final average salary shall be based upon their annual
				compensation.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-27 - Officers of the Department of Public Safety and Municipal Police or Fire Department

Current through Register Vol. XLI, No. 28, July 12, 2024
27.1. Any
				member of the Retirement System who served as an officer of the Division of
				Public Safety or a municipal fire or police department and is not receiving an
				annuity from that system, may be granted prior service credit if he or she is
				otherwise entitled to the credit.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-28 - Repayment of Withdrawals

Current through Register Vol. XLI, No. 28, July 12, 2024
28.1. Any
				former member of the Retirement System who withdrew his or her contributions
				and who is reemployed by a participating public employer may repay his or her
				withdrawals in periodic payments, together with interest as provided for in the
				West Virginia Consolidated Public Retirement Board's rule Refund, Reinstatement
				and Loan Interest Factors, 162CSR7, et seq. The individual shall be reemployed
				with a participating public employer(s) for one full year before any repayment
				of funds are allowed and the repayment must begin within two (2) years of
				reemployment. All funds must be repaid within five (5) years of
				reemployment.
28.2. All previously
				withdrawn contributions shall be repaid in full in order to receive service
				credit.
28.3. Reinstated service
				credit shall be posted to the member's account upon payment in full.
28.4. Termination or transfer of employment
				from one participating public employer and acceptance of employment with
				another participating public employer may be considered reemployment for the
				purposes of reinstating previously withdrawn service.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-29 - Employee and Employer Contributions When an Employee is on Annual Leave or Compensated Sick Leave

Current through Register Vol. XLI, No. 28, July 12, 2024
29.1. The employee and employer shall make
				regular contributions to the Retirement System, notwithstanding the fact that
				the employee is drawing compensation for annual or sick leave.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-30 - Insurance Premiums

Current through Register Vol. XLI, No. 28, July 12, 2024
30.1. The
				Board shall not consider premiums paid by a participating public employer for
				group life insurance or group health and accident insurance on its employees as
				compensation for retirement purposes.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-31 - Elected Officials of the Legislature

Current through Register Vol. XLI, No. 28, July 12, 2024
31.1. Elected
				clerks, sergeants at arms and doorkeepers of the Legislature shall receive one
				year of service credit with the Retirement System for each calendar year
				served.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-05 - Public Employees Retirement System › Section 162-5-32 - Surcharge for Delinquency of Employer and Employee Contributions

Current through Register Vol. XLI, No. 28, July 12, 2024
32.1. Any participating public employer who
				fails to make any payment due the Retirement System by the fifteenth (15th) day
				following the end of each calendar month in which the contributions are due may
				be required to pay the actuarial rate of interest lost on the total employee
				and employer contributions owed for each day the payment is delinquent. Accrual
				of the loss in earnings owed by the delinquent employer commences after the
				fifteenth (15th) day following the end of the calendar month in which the
				contributions are due and continues until receipt of the delinquent employee
				and employer contributions. Interest compounds daily and the minimum surcharge
				is fifty (50) dollars.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-06 - Appointment Of Representatives To The West Virginia Investment Management Board › Section 162-6-1 - General

Current through Register Vol. XLI, No. 28, July 12, 2024
1.1. Scope. -- This series of rules sets
				forth the procedure to be followed by the West Virginia Consolidated Public
				Retirement Board for the appointment of representatives from each of the seven
				(7) defined benefit plans administered by the Consolidated Public Retirement
				Board to the West Virginia Investment Management Board as required by W. Va.
				Code §
									12-6-3.
1.2. Authority. -- W. Va. Code §
									5-10D-1.
1.3. Filing Date. -- August 14,
				2008.
1.4. Effective Date. --
				September 14, 2008.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-06 - Appointment Of Representatives To The West Virginia Investment Management Board › Section 162-6-2 - Appointment Process

Current through Register Vol. XLI, No. 28, July 12, 2024
2.1. Pursuant
				to W. Va. Code §
									12-6-3, the West Virginia
				Consolidated Public Retirement Board shall annually appoint, on or before the
				first day of June of each year, a representative to the West Virginia
				Investment Management Board from each of the seven (7) defined benefit plans
				administered by the Consolidated Public Retirement Board.
2.2. The West Virginia Consolidated Public
				Retirement Board shall make available to any interested member, or retirant, of
				the seven (7) defined benefit plans administered by the Consolidated Public
				Retirement Board an "Application for Appointment by the Consolidated Public
				Retirement Board to be a Representative to the West Virginia Investment
				Management Board," a copy of which is attached hereto and incorporated by
				reference as Appendix A.
2.3. Any
				individual wishing to submit an Application for Appointment by the Consolidated
				Public Retirement Board to be a Representative to the West Virginia Investment
				Management Board shall do so on or before the first day of April of the year in
				which he or she wishes to be considered for appointment.
2.4. The chairperson of the West Virginia
				Consolidated Public Retirement Board shall, on or before the first day of April
				of each year, designate a standing committee from its members whose
				responsibility it shall be to evaluate the applications submitted for
				consideration in accordance with these rules and to make recommendations to the
				Board in conjunction therewith.
2.5. The standing committee charged with
				evaluating the applications for appointment of representatives to the West
				Virginia Investment Management Board shall, on or before the first day of May
				of each year, report to the West Virginia Consolidated Public Retirement Board
				its findings and recommendations with respect to the applicants, and the Board
				shall, with input from the standing committee, appoint one representative from
				each of the seven (7) defined benefit retirement plans on or before the first
				day of June of each year.
2.6. On
				or before the first day of June of each year, the West Virginia Consolidated
				Public Retirement Board shall submit in writing to the Investment Management
				Board the names of each of the representatives appointed pursuant to these
				rules.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-06 - Appointment Of Representatives To The West Virginia Investment Management Board › Section 162-6-3 - Appointment of Representative from the West Virginia State Police Death, Disability and Retirement Fund (Plan A)

Current through Register Vol. XLI, No. 28, July 12, 2024
3.1. The West
				Virginia Consolidated Public Retirement Board shall appoint a representative
				from the West Virginia State Police Death, Disability and Retirement Fund (Plan
				A) from those members of that system who shall have completed the Consolidated
				Public Retirement Board's application form as set forth in section §
									162-6-2 of these rules, which
				form must be signed by at least five (5) other members of that retirement
				system.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-06 - Appointment Of Representatives To The West Virginia Investment Management Board › Section 162-6-4 - Appointment of Representative from the West Virginia State Police Retirement System (Plan B)

Current through Register Vol. XLI, No. 28, July 12, 2024
4.1. The West Virginia Consolidated Public
				Retirement Board shall appoint a representative from the West Virginia State
				Police Retirement System (Plan B) from those members of that system who shall
				have completed the Consolidated Public Retirement Board's application form as
				set forth in subsection §
									162-6-2 of these rules, which
				form must be signed by at least five (5) other members of that retirement
				system.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-06 - Appointment Of Representatives To The West Virginia Investment Management Board › Section 162-6-5 - Appointment of Representative from the Judges Retirement System

Current through Register Vol. XLI, No. 28, July 12, 2024
5.1. The West Virginia Consolidated Public
				Retirement Board shall appoint a representative from the Judges Retirement
				System from those members of that system who shall have completed the
				Consolidated Public Retirement Board's application form as set forth in
				subsection §
									162-6-2 of these rules, which
				form must be signed by at least five (5) other members of that retirement
				system.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-06 - Appointment Of Representatives To The West Virginia Investment Management Board › Section 162-6-6 - Appointment of Representatives from the Teachers Retirement System

Current through Register Vol. XLI, No. 28, July 12, 2024
6.1. The West Virginia Consolidated Public
				Retirement Board shall appoint a representative from the Teachers Retirement
				System from those members of that plan who shall have completed the
				Consolidated Public Retirement Board's application form as set forth in
				subsection §
									162-6-2 of these rules, which
				form must be signed by at least five (5) other members of that retirement
				system.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-06 - Appointment Of Representatives To The West Virginia Investment Management Board › Section 162-6-7 - Appointment of Representative from the Public Employees Retirement System

Current through Register Vol. XLI, No. 28, July 12, 2024
7.1. The West Virginia Consolidated Public
				Retirement Board shall appoint a representative from the Public Employees
				Retirement System from those members of that plan who shall have completed the
				Consolidated Public Retirement Board's application form as set forth in
				subsection §
									162-6-2 of these rules, which
				form must be signed by at least five (5) other members of that retirement
				system.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-06 - Appointment Of Representatives To The West Virginia Investment Management Board › Section 162-6-8 - Appointment of Representative from the Deputy Sheriff Retirement System

Current through Register Vol. XLI, No. 28, July 12, 2024
8.1. The West Virginia Consolidated Public
				Retirement Board shall appoint a representative from the Deputy Sheriff
				Retirement System from those members of that plan who shall have completed the
				Consolidated Public Retirement Board's application form as set forth in
				subsection §
									162-6-2 of these rules, which
				form must be signed by at least five (5) other members of that retirement
				system.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-06 - Appointment Of Representatives To The West Virginia Investment Management Board › Section 162-6-9 - Appointment of Representative from the Emergency Medical Services Retirement System

Current through Register Vol. XLI, No. 28, July 12, 2024
9.1. The West Virginia Consolidated Public
				Retirement Board shall appoint a representative from the Emergency Medical
				Services Retirement System from those members of that plan who shall have
				completed the Consolidated Public Retirement Board's application form as set
				forth in subsection §
									162-6-2 of these rules, which
				form must be signed by at least five (5) other members of that retirement
				system.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-06 - Appointment Of Representatives To The West Virginia Investment Management Board › Section 162-6-10 - Committee Selection by Appointed Representatives

Current through Register Vol. XLI, No. 28, July 12, 2024
10.1. Each of
				the representatives appointed in accordance with these procedural rules shall,
				in turn and on or before July 1 of each year, appoint no more than three people
				to comprise a committee to represent the respective retirement funds in
				meetings before the Investment Management Board.
10.2. The representative appointed by the
				West Virginia Consolidated Public Retirement Board pursuant to these rules may
				serve as one of the three committee members referenced in 9.1 of these
				rules.
10.3. Each of the
				representatives appointed in accordance with these procedural rules shall
				submit in writing to the West Virginia Investment Management Board, on or
				before the first day of July of each year, the names of the three people
				comprising the committee appointed pursuant to §
									162-6-9.1 of these rules who will
				represent the beneficiaries of that representative's participant plan in
				meetings before the West Virginia Investment Management Board.
10.4. The committee members selected by the
				representative appointed in accordance with these procedural rules should come
				from diverse backgrounds as well as diverse geographical regions of the state,
				and should, whenever possible, not represent the same type of employees or the
				same work organization as the representative or the other committee members,
				and should have some experience with retirement plans and/or the investment of
				pension assets.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-06 - Appointment Of Representatives To The West Virginia Investment Management Board › Section 162-6-11 - Same Procedure to be Followed for Additional Defined Benefit Plans Created by Act of Legislature

Current through Register Vol. XLI, No. 28, July 12, 2024
11.1. To the
				extent that additional defined benefit plans are created by Act of the
				Legislature subsequent to the effective date of these rules, for which
				representative appointments to the Investment Management Board must be made,
				the same procedure as set forth herein for representative appointments for the
				existing defined benefit plans administered by the West Virginia Consolidated
				Public Retirement Board shall be followed for the appointment of
				representatives from such additional defined benefit plans to the Investment
				Management Board.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-06 - Appointment Of Representatives To The West Virginia Investment Management Board › Section 162-6-12 - Procedure to be Followed in the Event of Resignation of Appointed Representatives

Current through Register Vol. XLI, No. 28, July 12, 2024
12.1. In the
				event that a representative appointed pursuant to these rules tenders his
				resignation to the Consolidated Public Retirement Board during the term of his
				appointment, the Board's designated standing committee shall review and
				consider the remaining applications which were tendered for consideration for
				the term of appointment in question, and shall make a recommendation to the
				Consolidated Public Retirement Board regarding the appointment of a substitute
				representative at the Board's next regularly scheduled meeting.
12.2. The Consolidated Public Retirement
				Board shall consider the recommendation of the standing committee regarding the
				appointment of a substitute representative, and shall, with input from the
				standing committee, appoint a substitute representative to fill the position
				vacated by the resigning representative for the balance of that term of
				appointment.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-06 - Appointment Of Representatives To The West Virginia Investment Management Board › Section 162-6-13 - Procedure to be Followed in the Event No Application is Received

Current through Register Vol. XLI, No. 28, July 12, 2024
13.1. If there are no applications received
				by the Consolidated Public Retirement Board within the time period contemplated
				by §
									162-6-2.3 for any of the plans
				covered by this rule, the Board shall, with input from the Standing Committee,
				appoint a representative from such plan who is willing to serve and who, in the
				determination of the Board, would be capable of properly fulfilling the
				obligation of such an appointment.
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West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-07 - Refund, Reinstatement, Retroactive Service, Loan and Correction of Error Interest Factors › Section 162-7-1 - General

Current through Register Vol. XLI, No. 28, July 12, 2024
1.1. Scope. - This Rule addresses and
				identifies the interest rates which the Consolidated Public Retirement Board
				shall apply to the referenced member transactions which, from time-to-time,
				occur in the Board's administration of the State's several retirement
				systems.
1.2. Authority. - W. Va.
				Code § 5-1OD-1.
1.3. Filing
				Date. -June 28, 2016.
1.4.
				Effective Date. -June 28, 2016.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-07 - Refund, Reinstatement, Retroactive Service, Loan and Correction of Error Interest Factors › Section 162-7-2 - Relationship to Prior Interest Rules

Current through Register Vol. XLI, No. 28, July 12, 2024
2.1. This Rule
				is intended to replace any and all Rules which may have been, prior to the
				effective date of this Rule, previously adopted or promulgated by the Board
				regarding the attachment of interest on the referenced plan transactions. Any
				and all prior Rules are hereby repealed to the extent they are inconsistent
				with the provisions of this Rule.
2.2. This Rule and the interest rates
				specified are applicable to plan transactions which occur after June 30,
				2000.
2.3. To the extent that the
				Board determines that any provisions of this Rule are in conflict with the
				provisions of an analogous state retirement system statute, the statutory law
				prevails and shall be applied.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-07 - Refund, Reinstatement, Retroactive Service, Loan and Correction of Error Interest Factors › Section 162-7-4 - Reinstatement

Current through Register Vol. XLI, No. 28, July 12, 2024
4.1. A member who has previously terminated
				covered employment and withdrawn accumulated contributions, but later returns
				to employment with a participating public employer, may be eligible to
				reinstate his or her prior retirement system service credit if reinstatement is
				permitted under applicable law. The reinstatement of service credit shall in
				any event be contingent upon the member's repayment of contributions previously
				withdrawn from a state retirement system at the termination of his or her prior
				period of covered employment, plus interest thereon as provided for in this
				section.
4.1.1. Deputy Sheriff Retirement
				System. In the event a member of the Deputy Sheriff Retirement System requests
				and is determined to be eligible to restore retirement system service credit
				for periods of previously terminated covered employment, the member shall pay
				into the Deputy Sheriff Retirement System any contributions which the member
				may have previously withdrawn from the Deputy Sheriff Retirement System at the
				termination of any prior period of covered employment, plus reinstatement
				interest.
4.1.1.1. The rate of interest
				applicable to requests for reinstatement of service into the Deputy Sheriff
				Retirement System is, for all plan years between the date of the member's
				withdrawal of plan contributions and through June 30, 2000, four percent (4%)
				per annum. The rate of interest applicable to reinstatement requests for each
				plan year after June 30,2000, shall be the actuarial interest rate assumption
				as approved by the Board for completing the Actuarial Valuation for the plan
				year immediately preceding the first day of the plan year in which the
				reinstatement request is made, compounded per annum.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-07 - Refund, Reinstatement, Retroactive Service, Loan and Correction of Error Interest Factors › Section 162-7-5 - Retroactive Service

Current through Register Vol. XLI, No. 28, July 12, 2024
5.1. Public
				Employees Retirement System. In the event a member of the Public Employees
				Retirement System requests and is determined to be eligible to purchase
				retroactive service as defined in W. Va. Code §
									5-10-2 for periods of
				employment in which contributions were not deducted from the employee's
				compensation, the member shall pay into the plan contributions as specified in
				W. Va. Code §
									5-10-14(f), plus retroactive service interest.
5.1.1. The rate of interest applicable to
				requests to purchase retroactive service into the Public Employees Retirement
				System is, for all plan years between the date of the member's period of
				retroactive service and through June 30, 2000, four percent (4%) per annum. The
				rate of interest applicable to retroactive service purchases for each plan year
				after June 30, 2000, shall be the actuarial interest rate assumption as
				approved by the Board for completing the Actuarial Valuation for the plan year
				immediately preceding the first day of the plan year in which the retroactive
				service purchase is made, compounded per annum.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-07 - Refund, Reinstatement, Retroactive Service, Loan and Correction of Error Interest Factors › Section 162-7-6 - Loan Interest and Payments

Current through Register Vol. XLI, No. 28, July 12, 2024
6.1. Loans made
				to members of the Deputy Sheriff Retirement System pursuant to W. Va. Code
				§
									7-14D-23 shall carry interest on the unpaid balance, at an annual
				effective interest rate which is two hundred (200) basis points higher than the
				most recent rate of interest used by the Board for determining actuarial
				contribution levels.
6.2. Loans
				made to members of the Teachers' Retirement System pursuant to W. Va. Code
				§
									18-7A-34 shall carry interest on the unpaid balance, at a rate
				commensurate with the numeric rate applied by the Board to loans made to
				members of the Deputy Sheriff Retirement System, or the rate of six percent
				(6%), whichever is higher.
6.3. All
				loan payments remitted by an employer are due the Teachers' Retirement System
				or the Deputy Sheriff Retirement System within fifteen (15) days following the
				end of the calendar month for which the payment is made.
6.4. All loan payments remitted by personal
				payment, if permitted, are due the Teachers' Retirement System or the Deputy
				Sheriff Retirement System by the last day of the calendar month for which the
				payment is due.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-07 - Refund, Reinstatement, Retroactive Service, Loan and Correction of Error Interest Factors › Section 162-7-7 - Correction of Error

Current through Register Vol. XLI, No. 28, July 12, 2024
7.1. Deputy
				Sheriff Retirement System. In the event the Board determines that an error has
				occurred resulting in an underpayment to the Deputy Sheriff Retirement System,
				the member is entitled to receive retirement system service credit for the
				prior period of employment in which the error occurred, with receipt of service
				credit being contingent upon the Board's receipt of the employee and employer
				contributions, plus interest at the rate specified in subdivision 7.1.1. of
				this rule.
7.1.1. The rate of interest
				applicable to the correction of error computation in the Deputy Sheriff
				Retirement System is four percent (4%) compounded per annum for plan years
				through June 30,2000. The rate of interest applicable to the correction of
				error computation for each plan year after June 30,2000, shall be the actuarial
				interest rate assumption as approved by the Board for completing the Actuarial
				Valuation for the plan year immediately preceding the first day of the plan
				year in which the correction of error payment is made, compounded per
				annum.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-07 - Refund, Reinstatement, Retroactive Service, Loan and Correction of Error Interest Factors › Section 162-7-8 - Purchase of Service

Current through Register Vol. XLI, No. 28, July 12, 2024
8.1. Other
				Purchases of Service. Unless otherwise specified, the rate of interest
				applicable to requests to purchase service in any of the retirement systems
				administered by the Board shall be the actuarial interest rate assumption as
				approved by the Board for completing the Actuarial Valuation for the plan year
				immediately preceding the first day of the plan year in which the purchase of
				service is made, compounded per annum.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-08 - Service Credit for Accrued and Unused Sick and Annual Leave › Section 162-8-1 - General

Current through Register Vol. XLI, No. 28, July 12, 2024
1.1. Scope. - This rule governs a member's
				eligibility to use accrued and unused sick and annual leave for additional
				retirement system service credit in the Public Employees Retirement System, the
				Teachers' Retirement System, the Deputy Sheriff Retirement System, the West
				Virginia State Police Retirement System and the West Virginia Emergency Medical
				Services Retirement System. Employees of the judicial and legislative branches
				of government are exempt from this rule.
1.2. Authority. - W. Va. Code §
				5-1OD-1.
1.3. Filing Date. - June
				28, 2016.
1.4. Effective Date. -
				June 28, 2016. §
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-08 - Service Credit for Accrued and Unused Sick and Annual Leave › Section 162-8-2 - Purpose

Current through Register Vol. XLI, No. 28, July 12, 2024
2.1. General - The purpose of this rule is to
				set forth guidelines to govern the conversion of a member's accrued and unused
				sick and annual leave to additional retirement system service credit in the
				Public Employees Retirement System, the Teachers' Retirement System, the Deputy
				Sheriff Retirement System, the West Virginia State Police Retirement System and
				the West Virginia Emergency Medical Services Retirement System.
2.2. Administrative Appeals - In all
				contested cases regarding service credit for accrued sick and annual leave, the
				Board shall follow its rules, Benefit Determination and Appeal, 162 CSR 2; West
				Virginia State Police, 162 CSR 9; and Deputy Sheriff Retirement System, 162 CSR
				10; in reaching a decision on the appeal.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-08 - Service Credit for Accrued and Unused Sick and Annual Leave › Section 162-8-3 - Definitions

Current through Register Vol. XLI, No. 28, July 12, 2024
3.1. The definitions of key terms used in the
				Public Employees Retirement System (W. Va. Code §
									5-10-1 et seq.; 162 CSR
				5), the Teachers' Retirement System (W. Va. Code § 18-7A-l et seq.; 162
				CSR 4), the Deputy Sheriff Retirement System (W. Va. Code §
									7-14D-1 et
				seq.; 162 CSR 10), the West Virginia State Police Retirement System (W. Va.
				Code §
									15-2A-1 et seq.; 162 CSR 9) and the West Virginia Emergency Medical
				Services Retirement System (W. Va. Code § 16-5 V-l et seq.) apply to this
				service credit rule as the context requires.
West Virginia Code of State Rules › Agency 162 - Consolidated Public Retirement Board › Title 162 - LEGISLATIVE RULE CONSOLIDATED PUBLIC RETIREMENT BOARD › Series 162-08 - Service Credit for Accrued and Unused Sick and Annual Leave › Section 162-8-6 - Deputy Sheriff Retirement System

Current through Register Vol. XLI, No. 28, July 12, 2024
6.1. Service
				Credit for Accrued Unused Sick and Annual Leave. - Members of the Deputy
				Sheriff Retirement System may elect to receive additional service credit in
				exchange for accrued and unused sick and annual leave at the time of
				retirement. Members who make this election are eligible for any additional
				service credit to which the member is entitled based upon the number of the
				member's accrued unused sick and annual leave days which stand to the member's
				credit with the member's last covered employment employer at the time of
				retirement. In calculating a member's service credit for accrued unused sick
				and annual leave, the Board shall not include any accrued and unused sick and
				annual leave days which stand to the member's credit with any participating
				public employer prior to the member's last covered employment employer which
				are not transferable to or recognized by the member's last covered employment
				employer. In interpreting, applying and administering this rule and subject to
				the limitations found in subsections 6.2. and 6.3. of this rule, the Board
				shall accept the policy of the member's last covered employment employer for
				the accrual of unused sick and annual leave. In order for a covered employment
				employer's annual and sick leave policy to be recognized by the Board, the
				policy must be a written standard that is an accepted standard by the
				employer.
6.2. Limitation on the
				Accrual of Unused Sick and Annual Leave. - Members employed by any covered
				employment employer with a policy for the accrual of unused sick and annual
				leave which is more generous than that of the State of West Virginia for its
				state agency employees shall receive service credit only for accrued unused
				sick and annual leave as provided for by the State of West Virginia for state
				employees who are covered by the rules of the West Virginia Division of
				Personnel.
6.3. Calculation of
				Service Credit for Accrued Unused Sick and Annual Leave. - The Consolidated
				Public Retirement Board may request information from the member and/or the
				member's last covered employment or prior participating public employer in
				order to determine the proper amount of retirement system service credit the
				member is entitled to receive for his or her accrued and unused sick and annual
				leave. The conversion of accrued sick and annual leave to additional service
				shall be based upon the information received by the Board from the member's
				employer.
6.4. Lump Sum Payment for
				Accrued Leave. - If the member is paid in a lump sum for accrued unused leave,
				the Board shall not consider the lump sum payment as compensation or salary in
				computing a member's final average salary.