West Virginia § 18-7A-26x One-time bonus payment for certain annuitants

West Virginia Statutes

§ 18-7A-26x — One-time bonus payment for certain annuitants

West Virginia § 18-7A-26x

Ch. 18EDUCATION

Art. 7ASTATE TEACHERS RETIREMENT SYSTEM

This text of West Virginia § 18-7A-26x (One-time bonus payment for certain annuitants) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 18-7A-26x (2026).

Text

(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 $1,500 and shall be paid on or before December 31, 2023.

(b)The one-time bonus payment provided in this section applies to any retirant age 70 as of July 1, 2023, who has at least 20 years of service as of July 1, 2023, and whose monthly annuity is less than $1,000. 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 beneficiary of a qualifying retirant who c

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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 $1,500 and shall be paid on or before December 31, 2023.

(b) The one-time bonus payment provided in this section applies to any retirant age 70 as of July 1, 2023, who has at least 20 years of service as of July 1, 2023, and whose monthly annuity is less than $1,000. 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 beneficiary of a qualifying retirant who currently receives an annuity or other benefit payable by the retirement system.