West Virginia Code 18-7A-26d – Supplemental benefits for certain annuitants
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As an additional supplement to other retirement allowances provided, each annuitant whose annuity was approved by the retirement board prior to July 1, 1970, shall receive, upon application, an amount equal to twenty-five percent of his present retirement allowance.
Terms Used In West Virginia Code 18-7A-26d
- 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 a county board of education. See West Virginia Code 18-1-1