§5-16D-2. Creation of West Virginia Retiree Health Benefit Trust Fund


Published: 2015

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WEST VIRGINIA CODE











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WVC 5 - 16 D- 2

§5-16D-2. Creation of West Virginia Retiree Health Benefit Trust

Fund.

The Legislature declares that certain dedicated revenues

should be preserved in trust for the purpose of funding other

post-employment benefits.

There is hereby created the West Virginia Retiree Health

Benefit Trust Fund for the purpose of providing for and

administering retiree post-employment health care benefits, and the

respective revenues and costs of those benefits as a cost sharing

multiple employer plan.

The fund shall be available without fiscal year limitations

for covered health care expenses and administration costs. All

contributions, appropriations, earnings, and reserves for the

payment of obligations under this article shall be credited to the

fund and are irrevocable.

The amounts remaining in the fund, if any, after covered

health care expenses and administration costs have been paid shall

be retained in the fund as a special reserve for adverse

fluctuation. All assets of the fund shall be used solely for the

payment of fund obligations and for no other purpose.





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

The WV Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.