Click herefor more information on the West Virginia Retirement Plus Program. Some commonly used payroll forms and links are provided on this page. Note less than 12 month faculty hired after July 1, 2009 are not eligible for the retiree medical premium credits. The WV State Teachers Retirement System (TRS) provides income estimates upon receipt of a completed estimate request form. You may continue your basic, optional and dependent life insurance at the time of retirement. Senate Bill 243. Documents - Kanawha County Schools Z:~O Note for New Retirees: . as a promise or contract with TRS to pay the amount (b) Notwithstanding any other provision of this code to the contrary, a substitute teacher who has been assigned as a classroom teacher in the same classroom continuously for more than one half of a grading period and whose assignment remains in effect two weeks prior to the end of the grading period, shall remain in the assignment until the grading period has ended, unless the principal of the school certifies that the regularly employed teacher has communicated with and assisted the substitute with the preparation of lesson plans and monitoring student progress or has been approved to return to work by his or her physician. You may not elect or increase life insurance after this period. PDF 2022 Retirement Calendar /Note: Monthly Pension checks are dated and mailed on these dates. The substitutes are not eligible for additional pension or other benefits paid to regularly employed employees and may not accrue seniority. 17 0 obj <> endobj xref Therefore, before making any If you are Medicare Eligible, you may transfer directly to Humana. PDF Holiday/Semi-Monthly Pay Day Calendar 2022 - West Virginia (6) A retired teacher is eligible to be employed as a critical needs substitute teacher to fill a vacant position without any loss of retirement benefits attributed to the annuity reserve only if the retired teachers retirement became effective before the first day of July preceding at least the fiscal year during which he or she is employed as a critical needs substitute teacher. In addition, employees are offered the voluntary opportunity to participate in the West Virginia Retirement Plus Program, a supplemental retirement plan designed to provide an extra savings alternative for all State, county, city and other political subdivision employees. . The annual increment amount is $60 for each full year of qualifying service and is paid in July of each year. Ph: (304) 558-6181 Fax: (304) 558-1950 Office Hours: M-F 8:30am - 4:30pm Email: Finance@wv.gov FBMC Retiree Benefits Guides*Premium Rate Charts, If you are a Non-Medicare Retiree, your agency participates in PEIA retirement insurance and you want to continue PEIA Health Insurance, you will need visit your Retirement Board and your HR Department. 0000036796 00000 n 2022 WV Teacher of the Year; 2021 WV Teacher of the Year; 2020 WV Teacher of the Year; . 0000014941 00000 n Direct Deposit Schedule - nmpera.org For the purposes of this section, teacher and substitute teacher, in the singular or plural, mean professional educator as defined in section one, article one of this chapter. Conversely, the most expensive are for those retirees with the fewest years of service and they and their dependents are not eligible for Medicare. by the Department are required by state law to be members in the Teachers Retirement System administered by the West Virginia Consolidated Public Retirement Board. Annual Increment - West Virginia Weekly Datasets. The calculator is ONLY an estimate of your benefit. Consolidated Public Retirement Board West Virginia State Auditor's Office 4101 MacCorkle Avenue SE Building 1, Suite W-100 Charleston, WV 25304 Charleston, WV 25305 www.wvretirement.com www.wvsao.gov 2023 DIRECT DEPOSIT CALENDAR FOR RETIREES JANUARY FEBRUARY MARCH SM TWT F S S M T W T FS S M TW T F S . The purpose of this bill to modify examinations for the purpose of determining disability pensions. This retirement program is similar to a 401(k) plan in structure except . News. Advisor approximately six months prior to my anticipated date of retirement. (5) Retired teachers employed to perform expanded substitute service pursuant to this subsection are considered day-to-day, temporary, part-time employees. Telephone Employee contributions to the 401(a) plan are tax deferred for federal and state tax purposes. WVEA hb``a``ag [qY8Peu";SoU,l6o The purpose of this bill is to allow a surviving spouse one additional tax exemption of $20,000 beginning after December 31, 2023, for two taxable years after the death of the spouse. 2023 KCS Summer Academy. If you receive West Virginia State University routinely provides termination verification to TIAA electronically. The purpose of this bill is to authorize an expenditure of revenue from the Municipal Pension and Protection Fund and Fire Protection Fund. [Introduced January 12, 2022; referred to. Login Forms for Full-time and temporary employees: WV Dept. Calendar year taxpayers must file an annual return by April 15th each year for the preceding year. If you have left the employment of West Virginia State University you can contact TIAAto request a rollover or withdraw from your account. The employee does not pay federal or state income tax on the contributions by the employee or WVU to the plan. Check with the Office of Human Resources for further details concerning military leaves of absence (with and without pay) and associated benefits. Medicare-eligible employees who retire after the beginning of a plan year, and retired employees who become eligible for Medicare during the Plan year will be moved to the Special Medicare Plan. PDF Pay/Holiday Calendar 2021 - West Virginia may deduct up to $2,000 of benefits received from West Virginia Teachers Retirement System, West Virginia Public Employees Retirement System and Federal Retirement Systems (Title 4 USC 111). Depending on your employment status and the types of retirement plans you hold, you may be able to defer withdrawing funds from your account beyond age 70. Teachers Retirement System has no liability or If you wish to elect new or increased life insurance as a retired employee, you must enroll and submit medical information during the calendar month of retirement or the two following calendar months.