§5-10D-6a. Voluntary election by eligible retired public safety officers to have amounts from eligible retirement plan distributed to pay for qualified health insurance premiums


Published: 2015

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WEST VIRGINIA CODE











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WVC 5 - 10 D- 6 A

§5-10D-6a. Voluntary election by eligible retired public safety

officers to have amounts from eligible retirement

plan distributed to pay for qualified health

insurance premiums.

(a) Effective on or after the first day of January, two

thousand seven, any eligible retired public safety officer who is

a participant or member under any eligible retirement plan

administered by the board may voluntarily elect to have amounts

from an eligible retirement plan distributed in order to pay for

qualified health insurance premiums. Such election shall be made

in writing, in a form and manner authorized by the board, and shall

be consistent with the provisions of Section 402(l)(6) of the

Internal Revenue Code as it may be amended from time to time.

(b) The definitions of the following terms contained in

Section 402(l)(4) of the Internal Revenue Code, as it may be

amended from time to time, shall apply for purposes of this

section:

(1)"Eligible retirement plan";

(2)"Eligible retired public safety officer";

(3)"Public safety officer"; and

(4)"Qualified health insurance premiums".

(c) The amount which a participant or member may elect to have

distributed pursuant to subsection (a) of this section shall not

exceed three thousand dollars per taxable year of the participant

or member (or such other limitation amount as is specified in Section 402(l)(2) of the Internal Revenue Code, as it may be

amended or as the limitation may be adjusted from time to time) and

any amounts so elected to be distributed shall be paid by the board

directly to the provider in payment of the qualified health

insurance premiums. "Qualified health insurance premiums" includes

premiums for certain accident or health insurance plans and certain

long-term care insurance contracts.

(d) For purposes of this section, all eligible retirement

plans administered by the board shall be treated as a single plan.





Note: WV Code updated with legislation passed through the 2015 Regular Session

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