§5-10A-6. Refund of contributions


Published: 2015

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WEST VIRGINIA CODE











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WVC 5 - 10 A- 6

§5-10A-6. Refund of contributions.

     The supervisory board shall refund to a participant or

beneficiary terminated from benefits by section five of this

article the contributions of the participant in the same manner and

with the same interest as provided to those participants or

beneficiaries otherwise eligible to withdraw the participant's

contributions under the retirement plan, less the amount of any

benefits which the participant or his or her beneficiaries have

previously received: Provided, That a member of the Teachers'

Defined Contribution Retirement System whose benefits have been

terminated pursuant to section five of this article shall be

refunded only his or her employee contributions and the earnings on

those contributions; and any vested employer contributions shall

remain in the Teachers' Defined Contribution Retirement System and

be used to offset future employer contributions for each

contributing employer: Provided, however, That any former member

of the Teachers' Defined Contribution Retirement System who

affirmatively elected to transfer to the State Teachers' Retirement

System pursuant to article seven-d, chapter eighteen of this code

and whose benefits have been terminated pursuant to section five of

this article shall be refunded only his or her employee

contributions and the earnings on those contributions; and any

vested employer contributions from the Teachers' Defined

Contribution Retirement System shall remain in the State Teachers

Retirement System to be used to offset future employer contributions for each contributing employer.





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.