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 162-5-19 - Effective Date for Commencement of Annuity

Current through Register Vol. XLI, No. 28, July 12, 2024
19.1.
				Deferred or Early Retirement Annuity. Any member who terminates his or her
				employment and who is eligible for a deferred or early retirement annuity
				pursuant to W. Va. Code §
									5-10-21 shall commence annuity
				payments the first day of the calendar month following eligibility, termination
				of employment and benefits or the month in which his or her retirement
				application is received by the Board, whichever occurs last. Upon receipt of
				all properly executed forms from the member and former employer, the Board
				shall process the retirement annuity as soon as administratively
				feasible.
19.2. Disability
				Retirement Annuity. Disability annuity payments will commence for any member of
				a participating public employer who is approved for a disability retirement
				annuity pursuant to W. Va. Code §
									5-10-25 effective the first day of
				the month following receipt of application or the first day of the month
				following termination of employment and benefits, whichever occurs last. Upon
				receipt of all properly executed forms submitted by the employer or former
				employer and the disability retirant as required pursuant to the Consolidated
				Public Retirement Board's rule, Benefit Determination and Appeal, 162CSR2, the
				Board shall process the disability retirement annuity as soon as
				administratively feasible.
19.3.
				Regular Retirement Annuity. Any employee, age sixty (60) or older, who was
				eligible for a regular retirement annuity pursuant to W. Va. Code §
									5-10-20 upon terminating his or her
				employment and who files his or her retirement application within one (1) year
				of termination of employment shall commence annuity payments the first day of
				the month following the month in which he or she terminated employment and
				benefits with a participating public employer. Any employee, age sixty (60) or
				older, who was eligible for a regular retirement annuity pursuant to W. Va.
				Code §
									5-10-20 upon terminating his or her
				employment and who files his or her retirement application after one (1) year
				of termination of employment shall commence annuity payments the first day of
				the month following the month in which his or her application is received. Upon
				receipt of all properly executed forms from the member and former employer, the
				Board shall process the retirement annuity as soon as administratively
				feasible.
19.4. Survivor Annuity.
				If a member dies prior to retirement and a survivor annuity is payable pursuant
				to W. Va. Code §
									5-10-27, the survivor annuity
				payments shall commence effective the first day of the month following the
				death of the member. Upon receipt of all properly executed forms from the
				survivor and the former employer of the deceased member, the Board shall
				process the survivor annuity as soon as administratively feasible.
19.5. Required Minimum Distributions.
				Notwithstanding anything in this Rule to the contrary, distributions shall be
				made in accordance with the provisions of W. Va. Code §
									5-10-27b.