West Virginia Code 18-7B-3 – Defined contribution retirement system created and established; body corporate
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The teachers' defined contribution retirement system is hereby created and established to provide for the secure, fair and orderly retirement of the teachers and related personnel of the state. The defined contribution retirement system shall constitute a body corporate and all business of the system shall be transacted in the name of the teachers' defined contribution retirement system.
Terms Used In West Virginia Code 18-7B-3
- Retirement: means a member's withdrawal from the active employment of a participating employer and completion of all conditions precedent to retirement. See West Virginia Code 18-7B-2
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
- system: means the Teachers' Defined Contribution Retirement System created and established by this article. See West Virginia Code 18-7B-2