WEST VIRGINIA CODE
§5-10-9. Chairman and vice chairman; executive secretary;
employees; treasurer; legal advisor; actuary.
(a) The board of trustees shall elect from its own number a
chairman and a vice chairman.
(b) The board of trustees shall appoint an executive secretary
of the retirement system. The executive secretary shall be the
chief administrative officer of the system; and he shall not be a
member of the board. He shall perform such duties as are required
of him in this article and as the board shall from time to time
delegate to him. The compensation of the executive secretary shall
be fixed by the board subject to the approval of the governor. He
shall, with the approval of the board of trustees, employ such
administrative, technical, and clerical employees as shall be
required in the proper operation of the system.
(c) The state treasurer shall be treasurer of the retirement
system and the custodian of its funds. All bonds and other
investments purchased according to the provisions of this article
shall forthwith be deposited with the state treasurer. It shall be
his duty to collect the principal thereof and the interest and
dividends thereon as the same become due and payable, and when so
collected deposit same to the credit of the retirement system. All
disbursements from the funds of the system shall be made by the
state treasurer only upon written certification duly authorized by
a continuing or specific resolution adopted by the board of
trustees. He shall furnish the board with a statement of the
retirement system securities in his safekeeping as the board shall
from time to time request.
(d) The attorney general shall be the legal advisor to the
board of trustees.
(e) The board of trustees shall appoint an actuary who shall
be the technical advisor to the board regarding the operation of
the retirement system on an actuarial basis.
Note: WV Code updated with legislation passed through the 2015 Regular Session
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