West Virginia Code 8-22A-27a – Credit toward retirement for member’s accrued annual or sick leave days
(a) For purposes of this section, an annual leave or sick leave day shall be the equivalent of eight hours of leave.
Terms Used In West Virginia Code 8-22A-27a
- Annual compensation: means the wages paid to the member during covered employment within the meaning of Section 3401(a) of the Internal Revenue Code, but determined without regard to any rules that limit the remuneration included in wages based on the nature or location of employment or services performed during the plan year plus amounts excluded under Section 414(h)(2) of the Internal Revenue Code and less reimbursements or other expense allowances, cash or noncash fringe benefits, or both, deferred compensation and welfare benefits. See West Virginia Code 8-22A-2
- Board: means the Consolidated Public Retirement Board. See West Virginia Code 8-22A-2
- Code: shall mean the Code of West Virginia, 1931, as heretofore and hereafter amended. See West Virginia Code 8-1-2
- Covered employment: means either: (1) Employment as a full-time municipal police officer or firefighter and the active performance of the duties required of that employment. See West Virginia Code 8-22A-2
- Credited service: means the sum of a member's years of service, active military duty, and disability service. See West Virginia Code 8-22A-2
- Effective date: means January 1, 2010. See West Virginia Code 8-22A-2
- Final average salary: means the average of the highest annual compensation received for covered employment by the member during any five consecutive plan years within the member's last 10 years of service while employed, prior to any disability payment. See West Virginia Code 8-22A-2
- Member: means , except as provided in §. See West Virginia Code 8-22A-2
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- 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 8-22A-2
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(b) Any member accruing annual leave or sick leave days may, after the effective date of this section, elect to use the days which stand to the member’s credit with the member’s last covered employment employer at the time of retirement to acquire additional credited service in this retirement system. The days shall be applied on the basis of one days’ credit granted for each one day of accrued annual or sick leave days, with each month of retirement service credit to equal 20 days and with any remainder of 10 days or more to constitute a full month of additional credit and any remainder of less than 10 days to be dropped and not used, notwithstanding any provisions of this code to the contrary. The credited service shall be allowed and not considered to controvert the requirement of no more than 12 months’ credited service in any year’s period.
(c) Members employed by any covered employment employer with a policy for the accrual of unused sick and annual leave which is more generous than that of the State of West Virginia for its state agency employees shall receive service credit only for accrued unused sick and annual leave as provided for by the State of West Virginia for state employees who are covered by the rules of the West Virginia Division of Personnel. If the member is paid in a lump sum for accrued unused leave, the Board shall not consider the lump sum payment as annual compensation in computing a member’s final average salary.