Current through Register Vol. XLI, No. 24, June 14, 2024
Section 162-4-2 - Definitions2.1. "Accumulated contributions" means all employee retirement deductions from the gross salary of a member, plus regular interest.2.2. "Board" means the West Virginia Consolidated Public Retirement Board.2.3. "Disabled" means the inability to substantially do all the material acts necessary in the performance of assigned duties, by reason of a total and likely to be permanent physical or mental impairment, in the usual or customary manner for a period of six (6) months beginning with the last day of service.2.4. "Gross salary" means the fixed annual or periodic cash wages paid by a participating public employer to a member for performing duties for the participating public employer for which the member was hired. Gross salary shall also include retroactive payments made to a member to correct a clerical error, or pursuant to a court order or final order of an administrative agency charged with enforcing federal or state law pertaining to the member's rights to employment or wages, with all such retroactive salary payments to be allocated to and deemed paid in the periods in which the work was or would have been done. Gross salary shall not include lump sum payments for bonuses, early retirement incentives, severance pay, or any other fringe benefit of any kind including, but not limited to, transportation allowances, automobiles or automobile allowances, or lump sum payments for unused, accrued leave of any type or character.2.5. "Money purchase annuity" means that portion of total monthly benefits from the member's contributions plus state matching plus interest, times the actuarial factor for attained age.2.6. "Monthly benefit" means the total monthly payment, including a member's money purchase annuity, received by a retiree based upon the option chosen.2.7. "Option" means the form of benefit payments to the member and the member's beneficiary which shall be the actuarial equivalent of the normal benefit payable to the member only.2.8. "Prior service" means service performed before the date the member became eligible to make contributions.2.9. "Retirant" means any member who commences an annuity payable by the retirement system. 2.10. "Retirement system" means the Teachers' Retirement System as provided in West Virginia Code § 18-7A-1 et seq. 2.11. "Schools" means all educational units supported by moneys appropriated by the West Virginia Legislature.2.12. "Substitute teacher" means any teacher who is assigned (1) to fill the temporary absence of any teacher or for the unexpired school term made vacant by the resignation, transfer, death, suspension or dismissal of any teacher, (2) to fill a teaching position of a regular teacher on leave of absence or (3) to perform instructional services of any teacher who is authorized by law to be absent from class with loss of pay, providing the absence is approved by the Board of Education in accordance with the law. The substitute shall be a duly certified teacher.