This bill amends the West Virginia Public Employees Retirement Act to allow general counsel contracted by executive branch agencies for 10 or more consecutive calendar years to purchase retroactive service credit in the Public Employees Retirement System. The new provision specifies that these counsel must pay their share of contributions, while the agency will cover the employer's share. Importantly, no interest or penalties will be applied for the purchase of this retroactive service credit if the counsel was ineligible to become a member during the years they are purchasing credit or if their contributions would have been refused by the board during that time. Additionally, the bill stipulates that no more than one year of service can be credited for all service rendered in any calendar year, and the purchase must be completed within 24 months of the termination of employment or contractual obligation.

The bill also includes various amendments to existing provisions regarding service credit for employees of the State Legislature and other public employees. It clarifies the conditions under which service credit can be awarded, including specific time frames and requirements for legislative employees. The amendments aim to streamline the process for granting service credit and ensure that employees can accurately reflect their service time in retirement calculations. Overall, the bill seeks to enhance the retirement benefits for contracted legal counsel while maintaining the integrity of the Public Employees Retirement System.

Statutes affected:
Introduced Version: 5-10-14