West Virginia Code 16-5V-11 – Retirement; commencement of benefits
(a) Except for duty disability retirement, no member may retire before January 1, 2011.
Terms Used In West Virginia Code 16-5V-11
- 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.
- Board: means the Consolidated Public Retirement Board. See West Virginia Code 16-5V-2
- Member: means either: (1) A person first hired as an emergency medical services officer by an employer which is a participating public employer of the Emergency Medical Services Retirement System after the effective date of this article, as defined in subsection (r) of this section. See West Virginia Code 16-5V-2
- Normal retirement age: means the first to occur of the following:
(1) Attainment of age 50 years and the completion of 20 or more years of regular contributory service, excluding active military duty, disability service and accrued annual and sick leave service. See West Virginia Code 16-5V-2
- Plan: means the West Virginia Emergency Medical Services Retirement System established by this article. See West Virginia Code 16-5V-2
- retirement: means the first day of the month following or coincident with the latter of the last day the member worked in covered employment or the member's normal retirement age and after completing proper written application for retirement on an application supplied by the board. See West Virginia Code 16-5V-2
- Retirement income payments: means the monthly retirement income payments payable under the plan. See West Virginia Code 16-5V-2
(b) On or after the date a member attains early or normal retirement age, a member may retire and commence to receive retirement income payments on the first day of the calendar month following termination of employment and receipt of his or her written application for retirement in an amount as provided under this article: Provided, That retirement income payments under this plan are subject to the provisions of this article. Upon receipt of a request for estimation of benefits, the board shall promptly provide the member with an explanation of his or her optional forms of retirement benefits and the estimated gross monthly annuity. Upon receipt of properly executed retirement application forms from the member, the board shall process member's request for and commence payments as soon as administratively feasible.