West Virginia Code 5-10-22a – Supplemental benefits for certain annuitants
As an additional supplement to other retirement allowances provided, each annuitant who on July 1, 1974, is receiving a retirement annuity less than $4,200 annually, and whose retirement allowance became effective during the respective dates indicated in this section shall receive, upon application, an increased amount, payable monthly, which is the product of his present retirement allowance multiplied by the percentage increase applicable, according to the effective date of retirement and according to the plan of retirement, as provided by the schedule below.
Terms Used In West Virginia Code 5-10-22a
- Annuity: means an annual amount payable by the retirement system throughout the life of a person. See West Virginia Code 5-10-2
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Retirement: means a member's withdrawal from the employ of a participating public employer and the commencement of an annuity by the retirement system. See West Virginia Code 5-10-2
Effective Date of Percentage of
Retirement Allowance Increase
July 1, 1961 through June 30, 1962 …………………….24.00
July 1, 1962 through June 30, 1963 …………………….22.00
July 1, 1963 through June 30, 1964 …………………….20.00
July 1, 1964 through June 30, 1965 …………………….18.00
July 1, 1965 through June 30, 1966 …………………….16.00
July 1, 1966 through June 30, 1967 …………………….14.00
July 1, 1967 through June 30, 1968 …………………….12.00
July 1, 1968 through June 30, 1969 …………………….10.00
July 1, 1969 through June 30, 1970 ……………………..8.00
July 1, 1970 through June 30, 1971 ……………………..6.00
July 1, 1971 through June 30, 1972 ……………………..4.00
July 1, 1972 through June 30, 1973 ……………………..2.00
Any additional benefit conferred herein shall not be retroactive to the time of retirement but shall become effective July 1, 1974.
In no event, however, when the amount of an annuity is affected by this section, shall the total of the additional benefit herein provided and other retirement allowances provided elsewhere in this article exceed the sum of $4,200 annually.