§5-10-9. Chairman and vice chairman; executive secretary; employees; treasurer; legal advisor; actuary


Published: 2015

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WEST VIRGINIA CODE











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WVC 5-10-9

§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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