West Virginia Code 18-7A-26a – Additional benefits for certain annuitants
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Annuitants whose annuities were approved by the retirement board on or before December 18, 1962, shall, upon written application, receive in addition to such approved annuities a monthly allowance computed as follows: The annuitant's years of service shall be multiplied by $30 and this product shall then be divided by his monthly retirement allowance, as computed prior to the above-stated date, excluding any portion of said allowance which is based on voluntary deposits of the annuitant.
Terms Used In West Virginia Code 18-7A-26a
- Annuities: means the annual retirement payments for life granted beneficiaries in accordance with this article. See West Virginia Code 18-7A-3
- board: means a county board of education. See West Virginia Code 18-1-1
- Total service: means all service as a teacher or nonteacher while a member of the retirement system since last becoming a member and, in addition thereto, credit for prior service, if any. See West Virginia Code 18-7A-3
In addition thereto, beginning July 1, 1965, each annuitant under the provisions of this section shall receive a monthly amount equal to 76¢ multiplied by his total service credit.