West Virginia § 18-7A-26v One-time bonus payment for certain annuitants effective July 1, 2011

West Virginia Statutes

§ 18-7A-26v — One-time bonus payment for certain annuitants effective July 1, 2011

West Virginia·Ch. 18 EDUCATION·Art. 7A STATE TEACHERS RETIREMENT SYSTEM

(a)As an additional bonus payment to other retirement allowances provided, a one-time bonus payment to retirement benefits shall be paid to retirants of the retirement system as provided in subsection (b) of this section. The one-time bonus payment shall equal $1,200 and shall be paid on July 27, 2011.

(b)The one-time bonus payment provided in this section applies to any retirant with at least twenty years of service as a contributing member who currently receives an annual retirement annuity of not more than $7,200. This one-time bonus payment is subject to any applicable limitations under section 415 of the Internal Revenue Code of 1986, as amended.

(c)The one-time bonus payment provided by this section shall be payable pro rata to any beneficiaries of a qualifying retirant who curr

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(a) As an additional bonus payment to other retirement allowances provided, a one-time bonus payment to retirement benefits shall be paid to retirants of the retirement system as provided in subsection (b) of this section. The one-time bonus payment shall equal $1,200 and shall be paid on July 27, 2011.

(b) The one-time bonus payment provided in this section applies to any retirant with at least twenty years of service as a contributing member who currently receives an annual retirement annuity of not more than $7,200. This one-time bonus payment is subject to any applicable limitations under section 415 of the Internal Revenue Code of 1986, as amended.

(c) The one-time bonus payment provided by this section shall be payable pro rata to any beneficiaries of a qualifying retirant who currently receive an annuity or other benefit payable by the retirement system.

West Virginia § 18-7A-26v (One-time bonus payment for certain annuitants effective July 1, 2011) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.