West Virginia § 5-16-25 Reserve fund

West Virginia Statutes

§ 5-16-25 — Reserve fund

West Virginia § 5-16-25

Ch. 5GENERAL POWERS AND AUTHORITY OF THE GOVERNOR, SECRETARY OF STATE AND ATTORNEY GENERAL; BOARD OF PUBLIC WORKS; MISCELLANEOUS AGENCIES, COMMISSIONS, OFFICES, PROGRAMS, ETC

Art. 16WEST VIRGINIA PUBLIC EMPLOYEES INSURANCE ACT

This text of West Virginia § 5-16-25 (Reserve fund) 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 § 5-16-25 (2026).

Text

The finance board shall establish and maintain a reserve fund for the purposes of offsetting unanticipated claim losses in any fiscal year. The finance board shall maintain the actuarily recommended reserve in an amount no less than 10 percent of the projected total plan costs for that fiscal year in the reserve fund, which is to be certified by the actuary and included in the final, approved financial plan submitted to the Governor and Legislature.

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The finance board shall establish and maintain a reserve fund for the purposes of offsetting unanticipated claim losses in any fiscal year. The finance board shall maintain the actuarily recommended reserve in an amount no less than 10 percent of the projected total plan costs for that fiscal year in the reserve fund, which is to be certified by the actuary and included in the final, approved financial plan submitted to the Governor and Legislature.

Legislative History

2023 Reg. Sess., SB127; 2023 Reg. Sess., SB268; 2019 Reg. Sess., HB3139; 2007 Reg. Sess., SB129; 2007 Reg. Sess., HB2070; 2003 Reg. Sess., SB433; 2000 Reg. Sess., HB4800; 2000 Reg. Sess., SB5