This bill amends the West Virginia Public Employees Retirement Act to allow general counsel of executive branch agencies, who have been contracted for 10 or more consecutive calendar years, to purchase retroactive service credit for their time served in that capacity. The new provisions stipulate that these counsel must have been regularly employed full-time, requiring at least 1,040 hours of service per year. The counsel is responsible for paying their share of contributions, while the agency will cover the employer's share. Importantly, no interest or penalties will be applied for years when the counsel was ineligible to become a member of the retirement system or if their contributions were refused by the board.

Additionally, the bill clarifies that no more than one year of service can be credited for all service rendered in any calendar year, and the purchase of retroactive service credit must be completed within 24 months of the termination of employment or contractual obligation with the agency. The bill also includes various provisions regarding service credit for other employees, including those in the State Legislature and the State Teachers Retirement System, ensuring that the amendments apply retroactively to previous periods of employment. Overall, the bill aims to enhance the retirement benefits for contracted legal counsel in executive agencies.

Statutes affected:
Introduced Version: 5-10-14
Committee Substitute: 5-10-14