HB 4086
West Virginia Teachers Retirement system
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies the West Virginia Teachers Retirement System to allow Tier II members who became members on or after July 1, 2015, to apply their accrued annual and sick leave toward an increase in their retirement benefits. Specifically, one day of accrued leave will be credited as one day of retirement service credit. The bill also addresses health insurance coverage for retirees, spouses, and dependents, including provisions for continued coverage and premium contributions. Finally, it outlines specific rules for higher education faculty and prohibits the conversion of accrued leave for new employees hired after certain dates.
Key provisions
- Allows Tier II members (joined July 1, 2015 or later) to apply accrued annual and sick leave as retirement service credit.
- Provides for continued health insurance coverage for retirees, spouses, and dependents.
- Establishes premium contribution guidelines for retiree health insurance.
- Specifies rules for extended insurance coverage upon retirement, including formulas for calculating coverage duration based on accrued leave.
- Addresses coverage for higher education faculty with annual contracts.
- Prohibits the conversion of accrued leave for extended coverage for new employees hired after July 1, 2001 and July 1, 2009.
- Clarifies that elected officials are not eligible for leave benefits.
- Defines procedures for participation of former employees with significant service.
Who is affected
- West Virginia Teachers Retirement System members (Tier II)
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