Terms Used In West Virginia Code > Chapter 22A > Article 2A > Part 9 - Training

• 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.
• Annuity: means an annual amount payable by the retirement system throughout the life of a person. See West Virginia Code 5-10-2
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Credited service: means the sum of a member's prior service credit, military service credit, workers' compensation service credit, and contributing service credit standing to his or her credit as provided in this article. See West Virginia Code 5-10-2
• Employee: means any person who serves regularly as an officer or employee, full-time, on a salary basis, whose tenure is not restricted as to temporary or provisional appointment, in the service of, and whose compensation is payable, in whole or in part, by any political subdivision, or an officer or employee whose compensation is calculated on a daily basis and paid monthly or on completion of assignment, including technicians and other personnel employed by the West Virginia National Guard whose compensation, in whole or in part, is paid by the federal government: . See West Virginia Code 5-10-2
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Internal Revenue Code: means the Internal Revenue Code of 1986, as amended, codified at Title 26 of the United States Code. See West Virginia Code 5-10-2
• Member: means any person who has accumulated contributions standing to his or her credit in the members' deposit fund. See West Virginia Code 5-10-2
• Political subdivision: means the State of West Virginia, a county, city or town in the state. See West Virginia Code 5-10-2
• Retirant: means any member who commences an annuity payable by the retirement system. See West Virginia Code 5-10-2
• Retirement: means a member's withdrawal from the employ of a participating public employer and the commencement of an annuity by the retirement system. See West Virginia Code 5-10-2
• Service: means personal service rendered to a participating public employer by an employee of a participating public employer. See West Virginia Code 5-10-2
• State: means the State of West Virginia. See West Virginia Code 5-10-2
• 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
• system: means the West Virginia Public Employees Retirement System created and established by this article. See West Virginia Code 5-10-2