WEST VIRGINIA CODE
§5-10D-4. Employment of an actuary; duties; compensation.
(a) The board is hereby empowered and authorized to employ a
state retirement actuary or actuarial firm with such qualifications
as the board may prescribe or to utilize an actuary already in the
employ of the state. The actuary or actuarial firm shall perform
the following duties for the board:
(1) Analyze each item of state retirement legislation as to
cost, actuarial soundness and adherence to sound pension policy;
(2) Prepare an actuarial note to be attached to each item of
state retirement legislation prior to its formal introduction.
Such actuarial note shall briefly summarize the proposed
legislation and set forth its anticipated fiscal and actuarial
impact on the affected state retirement system or systems; and
(3) Such other duties as the board or the board of trustees of
the state public retirement system may assign.
(b) The state retirement actuary or actuarial firm, if one is
employed by the board, shall be compensated in an amount to be
fixed by the board. He or she shall receive, in addition, the
necessary expenses incident to the performance of his or her
duties. In the event that the board utilizes an actuary already
employed by the state to perform duties for the board, the board
shall reimburse the department or agency which actually employs the
actuary for expenses, including the pro rata portion of salary,
that the actuary actually expends in the performance of duties for
Note: WV Code updated with legislation passed through the 2015 Regular Session
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