§5-10-43. Pro rata reduction of annuities


Published: 2015

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
WEST VIRGINIA CODE











‹ Back



 |   Print







WVC 5-10-43

§5-10-43. Pro rata reduction of annuities.

Any provision in this article to the contrary notwithstanding,

if at the end of any fiscal year the total of the annuities paid

from the retirement reserve fund during the said fiscal year is

more than ten percent of the sum of the balances in the employers

accumulation fund and the retirement reserve fund at the end of the

said fiscal year, the said annuities payable in the next ensuing

fiscal year shall be reduced, pro rata, so that the sum of the

annuities so reduced shall not exceed ten percent of the sum of the

said balances in the employers accumulation fund and the retirement

reserve fund. The said pro rata reduction shall be applied to all

annuities payable in the said ensuing fiscal year.





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.