WEST VIRGINIA CODE
WVC 5 - 10 - 13
§5-10-13. Actuarial investigations and valuations; specification
of actuarial assumptions.
(a) The board of trustees shall keep, or cause to be kept,
such data as shall be necessary for the preparation of mortality,
service and retirement tables and for the compilation of such other
data as shall be required for an actuarial valuation of the assets
and liabilities of the retirement system.
(b) Beginning in one thousand nine hundred sixty-six, and in
each five-year period thereafter, the actuary shall make actuarial
investigations into the experiences of the members, retirants and
beneficiaries of the retirement system. Based upon such
investigations, the board of trustees shall adopt for the system
rates of mortality, withdrawal from service, superannuation
retirement and disability retirement and salary scales for final
(c) Beginning in one thousand nine hundred sixty-two, and at
least once in each three-year period thereafter, the actuary shall
make an actuarial valuation of the assets and liabilities of the
retirement system: Provided, That until the first actuarial
investigations are made, the valuations shall be based upon
decrement assumptions which are, in the opinion of the actuary,
applicable to the members, retirants and beneficiaries of the
(d) Beginning in one thousand nine hundred sixty-two, the
actuary shall annually compute the annuity reserve liabilities for annuities being paid retirants and beneficiaries.
(e) The board shall specify and adopt all actuarial
assumptions for the system at its first meeting of every calendar
year or as soon thereafter as may be practicable, which assumptions
shall become part of the terms of the system.
Note: WV Code updated with legislation passed through the 2015 Regular Session
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