Current through Register Vol. XLI, No. 24, June 14, 2024
Section 162-8-4 - Public Employees Retirement System4.1. Service Credit for Accrued Unused Sick and Annual Leave. - Members of the Public Employees Retirement System first hired prior to July 1,2015 may elect to receive additional service credit in exchange for accrued and unused sick and annual leave at the time of retirement. Members first hired prior to July 1, 2015 who make this election are eligible for any additional service credit to which the member is entitled based upon the number of the member's accrued unused sick and annual leave days which stand to the member's credit with the member's last participating public employer at the time of retirement. In calculating a member's service credit for accrued unused sick and annual leave, the Board shall not include any accrued and unused sick and annual leave days which stand to the member's credit with any participating public employer prior to the member's last participating public employer which are not transferable to or recognized by the member's last participating public employer. In interpreting, applying and administering this rule and subject to the limitations found in subsections 4.2 and 4.3 of this rule, the Board shall accept the policy of the member's last participating public employer for the accrual of unused sick and annual leave. In order for a participating public employer's annual and sick leave policy to be recognized by the Board, the policy must be a written standard that is an accepted standard by the employer. 4.2. Limitation on the Accrual of Unused Sick and Annual Leave. - Members employed by any participating public employer with a policy for the accrual of unused sick and annual leave which is more generous than that of the State of West Virginia for its state agency employees shall receive service credit only for accrued unused sick and annual leave as provided for by the State of West Virginia for state employees who are covered by the rules of the West Virginia Division of Personnel.4.3. Calculation of Service Credit for Accrued Unused Sick and Annual Leave. - The Consolidated Public Retirement Board may request information from the member and/or the member's last or prior participating public employer in order to determine the proper amount of retirement system service credit the member is entitled to receive for his or her accrued and unused sick and annual leave. The conversion of accrued sick and annual leave to additional service shall be based upon the information received by the Board from the member's employer.4.4. Lump Sum Payment for Accrued Leave. - If the member is paid in a lump sum for accrued unused leave, the Board shall not consider the lump sum payment as compensation or salary in computing a member's final average salary.