§8-22A-8a. Correction of Errors; Underpayments; Overpayments
(a) General rule. Upon learning of errors, the board shall correct errors in the plan in a timely manner whether the individual, entity or board was at fault for the error with the intent of placing the affected individual, entity, and retirement board in the position each would have been in had the error not […]
§8-22A-9. Retirement; Commencement of Benefits; Insurance Requirements During Early Period
(a) To ensure the fiscal integrity of the retirement system during the start-up phase, no member is entitled to retirement, disability or death benefits under this retirement system until January 1, 2017. Participating municipalities shall purchase insurance for their new plan members to provide coverage in an amount equal to disability coverage otherwise provided in […]
§8-22A-10. Federal Law Maximum Benefit Limitations
Notwithstanding any other provision of this article or state law, the board shall administer the retirement system in compliance with the limitations of Section 415 of the Internal Revenue Code and regulations under that section to the extent applicable to governmental plans (hereafter sometimes referred to as the "415 limitation(s)" or "415 dollar limitation(s)"), so […]
§8-22A-11. Federal Law Minimum Required Distributions
The requirements of this section apply to any distribution of a members or beneficiarys interest and take precedence over any inconsistent provisions of this plan. This section applies to plan years beginning after December 31, 1986. Notwithstanding anything in the plan to the contrary, the payment of benefits under this article shall be determined and […]
§8-22A-1. Title
This article is known and may be cited as the "West Virginia Municipal Police Officers and Firefighters Retirement System Act."
§8-22A-2. Definitions
As used in this article, unless a federal law or regulation or the context clearly requires a different meaning: (a) “Accrued benefit” means on behalf of any member 2.75 percent per year of the members final average salary for the first 20 years of credited service. Additionally, 2 percent per year for 21 through 25 […]