Taxable amount of retirement income reported on federal return. 32 0 obj <>stream endstream endobj 730 0 obj <>/Metadata 156 0 R/Pages 727 0 R/StructTreeRoot 327 0 R/Type/Catalog>> endobj 731 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]>>/Rotate 0/StructParents 0/Tabs/W/Type/Page>> endobj 732 0 obj <>stream Online access for current retirees -PEIA Insurance Contact Information The CPRB administers 10 different plans: PERS: Public Employees Retirement System PERS Tier II TRS: Teachers' Retirement System TRS Tier II TDC Plan: Teachers' Defined Contribution System PLAN A: WV State Police Death, Disability and Retirement Fund PLAN B: West Virginia State Police Retirement System DSRS: Deputy Sheriffs' Retirement System West Virginia University Transportation and Parking unit is seeking applications for a Trades Specialist I (Electrician). (f) Any individual who is a leased employee is not eligible to participate in the system. (29) "State" means the State of West Virginia. Other employees shall pay the states share and the employees share to purchase retroactive service credit. Your pay (salary) was determined at the time you were hired, based on your job classification, your qualifications, and your agency's financial determination. pension from the West Virginia State Police Death, Disability and Retirement Fund. . Employment at the West Virginia Department of Education (WVDE) provides eligible employees with an array of benefit plans that promote health and help you build financial resources for retirement. Teachers Retirement System, West Virginia Public Employees Retirement System and Federal Retirement Systems (Title 4 USC 111). WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT. Employees of the State Legislature whose terms of employment are otherwise classified as temporary and who are employed to perform services required by the Legislature during the interim time between regular sessions shall receive service credit of one month for each 10 days served during the interim between regular sessions, which interim days shall be cumulatively calculated so that any 10 days, regardless of calendar month or year, shall be calculated toward any award of one month of service credit: , That no more than one year of service may be credited to any temporary legislative employee for all service rendered by that employee in any calendar year and no days may be carried over by a temporary legislative employee from one calendar year to another calendar year where the member has received a full year credit for that year. (B) If the member has less than five years of credited service, the average of the annual rate of compensation received by the member during his or her total years of credited service; and in determining the annual compensation, under either paragraph (A) or (B) of this subdivision, of a member of the Legislature who participates in the retirement system as a member of the Legislature in the year 1971, or in any year thereafter, his or her actual legislative compensation (the total of all compensation paid under 4-2A-2, 4-2A-3, 4-2A-4, and 4-2A-5 of this code), in the year 1971, or in any year thereafter, plus any other compensation he or she receives in any year from any other participating public employer including the State of West Virginia, without any multiple in excess of one times his or her actual legislative compensation and other compensation, shall be used: , That final average salary for any former member of the Legislature or for any member of the Legislature in the year 1971 who, in either event, was a member of the Legislature on November 30, 1968, or November 30, 1969, or November 30, 1970, or on November 30 in any one or more of those three years and who participated in the retirement system as a member of the Legislature in any one or more of those years means: (i) Either, notwithstanding the provisions of this subdivision preceding this proviso, $1,500 multiplied by eight, plus the highest other compensation the former member or member received in any one of the three years from any other participating public employer including the State of West Virginia; or (ii) final average salary determined in accordance with paragraph (A) or (B) of this subdivision, whichever computation produces the higher final average salary, and in determining the annual compensation under subparagraph (ii) of this paragraph, the legislative compensation of the former member shall be computed on the basis of $1,500 multiplied by eight, and the legislative compensation of the member shall be computed on the basis set forth in the provisions of this subdivision immediately preceding this paragraph or on the basis of $1,500 multiplied by eight, whichever computation as to the member produces the higher annual compensation; (15) "Limited credited service" means service by employees of the West Virginia Educational Broadcasting Authority, in the employment of West Virginia University, during a period when the employee made contributions to another retirement system, as required by West Virginia University, and did not make contributions to the Public Employees Retirement System: , That while limited credited service can be used for the formula set forth in 5-10-21(e) of this code, it may not be used to increase benefits calculated under 5-10-22 of this code; (19) "Political subdivision" means the State of West Virginia, a county, city or town in the state; a school corporation or corporate unit; any separate corporation or instrumentality established by one or more counties, cities or towns, as permitted by law; any corporation or instrumentality supported in most part by counties, cities or towns; and any public corporation charged by law with the performance of a governmental function and whose jurisdiction is coextensive with one or more counties, cities or towns: , That any mental health agency participating in the Public Employees Retirement System before July 1, 1997, is considered a political subdivision solely for the purpose of permitting those employees who are members of the Public Employees Retirement System to remain members and continue to participate in the retirement system at their option after July 1, 1997: , That the Regional Community Policing Institute which participated in the Public Employees Retirement System before July 1, 2000, is considered a political subdivision solely for the purpose of permitting those employees who are members of the Public Employees Retirement System to remain members and continue to participate in the Public Employees Retirement System after July 1, 2000; 5-10-14. ARTICLE 10. For Medicare Retirees, Medicare will be primary and PEIA will be secondary. You will keep the same Medical ID card and use it as you did when you were an active employee for facilities, doctors and prescriptions. Any service credit purchased shall be credited as six months for each 60-day session worked, three months for each 30-day session worked or 12 months for each 60-day session for legislative employees who have been employed during regular sessions in. (2) The requirement of seven consecutive five years and the requirement of 13 consecutive seven years apply retroactively to all legislative employment prior to the effective date of the 2006 amendments to this section. (e) If question arises regarding the membership status of any employee, the Board of Trustees has the final power to decide the question. The Legislature further finds and declares that it has the need for qualified employees and that in many cases an employee of the Legislature will retire and be available to return to work for the Legislature as a per diem employee. Based on our analysis of West Virginia's teacher retirement plan, it earned an overall grade of F. West Virginia earned a F for providing adequate retirement benefits for teachers and a F on . Health, Mountaineer Flexible, Life Insurance -CPRB Tip Hotline Consolidated Public Retirement Board. hbbd```b`` 3Xf/`v=`3.HA`hHd2c 0;D'/&0[l0;D7d`bd` b`q calendar years, service credit of one month shall be awarded for each 10 days employed in the interim between regular sessions, which interim days shall be cumulatively calculated so that any 10 days, regardless of calendar month or year, shall be calculated toward any award of one month of service credit; (2) Except for hourly employees, and those persons who first become members of the retirement system on or after July 1, 2015, 10 or more months of service credit earned in any calendar year shall be credited as a year of service: , That no more than one year of service may be credited to any member for all service rendered by him or her in any calendar year and no days may be carried over by a member from one calendar year to another calendar year where the member has received a full-year credit for that year; and. He may take a modification from his adjusted gross income for the full amount of pension he receives from that fund. Menu. The Legislature further finds and declares that reemploying these persons on a limited per diem basis after they have retired is not only in the best interests of this state but has no adverse effect whatsoever upon the actuarial soundness of this particular retirement system. A retirant may accept legislative per diem, temporary full-time, or temporary part-time employment from a participating employer without suspending his or her retirement annuity so long as he or she does not receive annual compensation in excess of. The board shall have final power to decide whether the payments shall be considered compensation for purposes of this article; (11) "Employee" means any person who serves regularly as an officer or employee, full time, on a salary basis, whose tenure is not restricted as to temporary or provisional appointment, in the service of, and whose compensation is payable, in whole or in part, by any political subdivision, or an officer or employee whose compensation is calculated on a daily basis and paid monthly or on completion of assignment, including technicians and other personnel employed by the West Virginia National Guard whose compensation, in whole or in part, is paid by the federal government: , That an employee of the Legislature whose term of employment is otherwise classified as temporary and who is employed to perform services required by the Legislature for its regular sessions or during the interim between regular sessions and who has been or is employed during regular sessions or during the interim between regular sessions in. endstream endobj startxref endstream endobj 15 0 obj <>stream To view your W2 forms, payroll deductions, pay stubs, and direct deposit information, visit, Employee Prior State Service Declaration DOP-V1, Payroll Administrators/Employee Forms and Calendars. In the purchase of service credit for employment prior to 1989 in any department, including the Legislature, which operated from the General Revenue Fund and which was not expressly excluded from budget appropriations in which blanket appropriations were made for the states share of public employees retirement coverage in the years prior to 1989, the employee shall pay the employees share. 25 0 obj <>/Filter/FlateDecode/ID[<51374AFA1FB7F65BDA994737043577AB>]/Index[10 23]/Info 9 0 R/Length 78/Prev 163071/Root 11 0 R/Size 33/Type/XRef/W[1 2 1]>>stream Title: 2023 Retirement Calendar.xls Author: WVA0012 If you are Medicare Eligible and currently on The Health Plan when you retire, you and your dependents will be switched to the PEIA PPB Plan A upon retirement. [Originating in the Committee on Pensions; reported on February 16, 2023] A BILL to amend and reenact 5-10-2, 5-10-14, 5-10-17, and 5-10-48 of the Code of West Virginia, 1931, as amended, all relating generally to legislative employment and retirement; modifying the length of service an employee of the Legislature whose . %%EOF These payments include, but are not limited to, attendance or performance bonuses, one-time flat fee or lump sum payments, payments paid as a result of excess budget, or employee recognition payments. Public Employees. This retirement program is similar to a 401(k) plan in structure except that it is designed to supplement a participant's primary retirement plan. A number of benefits are administered on a pre-tax basis. Retirement; Non-State Agency Enrollment & Withdrawal; New Employee; Video Library; . (c) Court reporters who are acting in an official capacity, although paid by funds other than the county commission or State Auditor, may receive prior service credit for time served in that capacity. . Specific information regarding retirement benefits is available on the West Virginia Consolidated Public Retirement Board's site. or more consecutive calendar years, as certified by the clerk of the house in which the employee served, is an employee, any provision to the contrary in this article notwithstanding, and is entitled to credited service in accordance with provisions of 5-10-14 of this code: , That members of the legislative body of any political subdivision and commissioners of the West Virginia Claims Commission are employees receiving one year of service credit for each one-year term served and prorated service credit for any partial term served, anything contained in this article to the contrary notwithstanding: , That only a compensated board member of a participating public employer appointed to a board of a nonlegislative body for the first time on or after July 1, 2014, who normally is required to work 12 months per year and 1040 hours of service per year is an employee. Pension benefit payments will be issued on the first business day of the month. The West Virginia Department of Environmental Protection (WVDEP) enforces state and federal environmental laws in West Virginia to help protect our air, water, and land. %%EOF Senate Bill 582. 5kETO6=Q:aI-90 K Service credit; retroactive provisions. WV Consolidated Public Retirement Board. Subsequent to your hire are other issues that affect how much of your salary you bring home. hb``e``2` Y9Y8xa3 fc`k If his or her reemployment is for a period of one year or longer, his or her annuity shall be recalculated and he or she shall be granted an increased annuity due to the additional employment, the annuity to be computed according to 5-10-22 of this code. When your dependents become Medicare Eligible,pleasesendacopyoftheirMedicarecardintoPEIA. &0z@MjTgd0 The exception to this rule is in January when, for tax purposes, the payment must be issued on the first business . In the event a members remuneration is not all paid in money, his or her participating public employer shall fix the value of the portion of the remuneration which is not paid in money: Provided Provided, That members hired in a position for the first time on or after July 1, 2014, who receive nonmonetary remuneration shall not have nonmonetary remuneration included in compensation for retirement purposes and nonmonetary remuneration may not be used in calculating a members final average salary. (e) (1) Employees of the State Legislature whose terms of employment are otherwise classified as temporary and who are employed to perform services required by the Legislature for its regular sessions or during the interim time between regular sessions shall receive service credit for the time served in that capacity in accordance with the following: For purposes of this section, the term "regular session" means day one through day 60 of a 60-day legislative session or day one through day 30 of a 30-day legislative session. The first payment can take up to 30-45 calendar days from your retirement date or the date your application is received, whichever is later. PERS-Public Employees Retirement System 4101 MacCorkle Avenue, SE Charleston, WV 25304-1636 Phone: (304) 558-5455 Toll Free: (800) 654-4406 Fax: (304) 558-1394 (h) The board of trustees shall grant service credit to any former or present member of the State Police Death, Disability and Retirement Fund who has been a contributing member of this system for more than three years for service previously credited by the State Police Death, Disability and Retirement Fund if the member transfers all of his or her contributions to the State Police Death, Disability and Retirement Fund to the system created in this article, including repayment of any amounts withdrawn any time from the State Police Death, Disability and Retirement Fund by the member seeking the transfer allowed in this subsection: Provided, That there shall be added by the member to the amounts transferred or repaid under this subsection an amount which shall be sufficient to equal the contributions he or she would have made had the member been under the Public Employees Retirement System during the period of his or her membership in the State Police Death, Disability and Retirement Fund, excluding contributions on lump sum payment for annual leave, plus interest at a rate determined by the board. The Legislature further finds and declares that in many instances these employees have particularly valuable expertise which the Legislature cannot find elsewhere. WV.gov is the official Web site for the State of West Virginia and is the result of an innovative public-private partnership between the state and West Virginia Interactive. The remaining 21.75 percent state contribution is to pay down the pension fund's debt. WV457. A retirant may accept legislative per diem, temporary full-time, or temporary part-time employment from a participating employer without suspending his or her retirement annuity so long as he or she does not receive annual compensation in excess of $20,000 $25,000. If that day falls on a weekend or holiday, payments will be issued on the last business day of the previous month. Your pension payment date is the 15th of the month. Benefitting People Who Serve. Because each case is different, contact us to know exactly when your first check will be sent. INPRS. 5-10D-7 of this code and Section 401 (a) (17) of the Internal Revenue Code: , That the provisions of 5-10-22h of this code are not applicable to the amendments made to this subdivision during the 2011 regular session of the Legislature; (A) The average of the highest annual compensation received by a member, including a member of the Legislature who participates in the retirement system in the year 1971 or thereafter, during any period of three consecutive years of credited service contained within the members 15 years of credited service immediately preceding the date his or her employment with a participating public employer last terminated: , That for persons who were first hired on or after July 1, 2015, any period of five consecutive years of contributing service contained within the members 15 years of credited service immediately preceding the date his or her employment with a participating public employer last terminated; or. 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