West Virginia Code 18-7A-26j – Supplemental benefits for certain teachers who retired prior to July 1, 1981
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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, 1981, and such annuitant is not receiving supplemental benefits pursuant to section twenty-six-i of this article, shall receive a monthly amount equal to $1.25 multiplied by his or her total service credit.
Terms Used In West Virginia Code 18-7A-26j
- 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
- 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