Tag: Consolidated Public Retirement Board

W.Va. Pension Board OKs National Guard Service Credits

  Public employees who also serve in the West Virginia National Guard can count time spent on active duty status toward their state pensions.

They also can receive military service credit for time spent on training missions.

The Charleston Gazette reports that the state Consolidated Retirement Board approved the changes in a ruling issued Wednesday. The ruling came in an appeal by former West Virginia National Guard Adjutant General Allen Tackett regarding his service credits.

The ruling also says National Guard members qualify for a month of military service for any month in which they have 10 or more days on active duty.

Hearing officer Jack DeBolt says Tackett’s appeal is intended to set a precedent to extend benefits to other public retirees with National Guard service.

Pension Credit Expansion to Cost W.Va. $197 Million

A state actuary says expanding military service credits for public employees’ pension benefits will cost more than $197 million.

A report by Consolidated Public Retirement Board actuary Harry Mandel projects that active Public Employees Retirement System participants will be eligible for $113.9 million in increased pension payments. Retirees will be entitled to about $43.6 million in increased payments.
 
Retirees also will receive more than $33 million to cover back underpayments, along with about $6 million in interest.
 
The Charleston Gazette says Mandel told the board Wednesday that nearly $23 million will be needed annually for 20 years to cover the expansion’s cost.
 
The West Virginia Supreme Court ruled earlier this year that the board wrongly denied military service credits for armed conflicts not specifically cited in state law.

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