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Committee backs 60-day separation rule for public retirement annuitants
Summary
The Senate Pensions Committee advanced Senate Bill 7 12, which would add a 60-day bona fide separation requirement to West Virginia retirement systems to preserve qualified tax status under federal law; the committee recommended referral to Finance and reported the bill to the full Senate.
The West Virginia Senate Pensions Committee voted to report Senate Bill 7 12 to the full Senate with a recommendation that it pass; the committee also asked that the bill be referred first to the Committee on Finance.
The bill would add to state law a 60-day separation requirement for retirees receiving an annuity from retirement systems administered by the Consolidated…
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