§5-10-22k. One-time bonus payment for certain annuitants effective July 1, 2011


Published: 2015

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WVC 5 - 10 - 22 K

§5-10-22k. One-time bonus payment for certain annuitants effective

July 1, 2011.

     (a) As an additional bonus payment to other retirement

allowances provided, a one-time bonus payment to retirement

benefits shall be paid to retirants of the system as provided in

subsection (b) of this section. The one-time bonus payment shall

equal $1,200 and shall be paid on July 27, 2011.

     (b) The one-time bonus payment provided by this section

applies to any retirant with at least twenty years of credited

service who currently receives an annual retirement annuity of not

more than $7,200. This bonus payment is subject to any applicable

limitations under section 415 of the Internal Revenue Code of 1986,

as amended.

     (c) The one-time bonus payment provided by this section shall

be payable pro rata to any beneficiaries of a qualifying retirant

who currently receive an annuity or other benefit payable by the

system.





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

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