§5-16-5b. Creation of trust for retirees hired on or after July 1, 2010


Published: 2015

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WEST VIRGINIA CODE











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WVC 5 - 16 - 5 B

§5-16-5b. Creation of trust for retirees hired on or after July 1,

2010.

     There is hereby created a special revenue account in the State

Treasury, designated the Post-July 1, 2010, Employee Trust Fund,

which shall be an interest-bearing account and may be invested in

accordance with the provisions of article six, chapter twelve of

this code, with the interest income a proper credit to the fund.

The fund shall consist of moneys appropriated by the Legislature

and moneys transferred pursuant to section ninety-six, article

twenty-one, chapter eleven of this code. Expenditures from the

fund shall be for the purposes set forth by the Legislature in

furtherance of an incentive contingent on future legislative

directives for retirees who were hired on or after July 1, 2010, to

be received upon their retirement. Such incentive may be

determined by the Legislature in accordance with section seven,

article sixteen-d of this chapter.





Note: WV Code updated with legislation passed through the 2015 Regular Session

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