Beginning on July 1, 1991 and thereafter, each county board of education shall deposit in the member's annuity account created pursuant to section nine of this article an amount equal to seven and one-half percent of all compensation paid to members of the defined contribution system in excess of that authorized for minimum salaries in sections two and eight-a, article four, chapter eighteen-a of this code to the extent that the excess exceeds the amount distributed for salary equity to the county.
Structure West Virginia Code
Article 7B. Teachers' Defined Contribution Retirement System
§18-7B-3. Defined Contribution Retirement System Created and Established; Body Corporate
§18-7B-4. Article to Be Liberally Construed; Purpose; Federal Qualification Requirements
§18-7B-5. Administration of the Teachers' Defined Contribution Retirement System
§18-7B-7a. Plan Closed to Persons Employed for the First Time After June, 2005; Former Employees
§18-7B-8a. Qualified Military Service
§18-7B-9. Members' Contributions; Annuity Account Established
§18-7B-10. Employer Contributions
§18-7B-11. Termination of Membership
§18-7B-11a. Rollovers and Transfers to Repay Cashed-Out or Withdrawn Contributions
§18-7B-12a. Federal Minimum Required Distributions
§18-7B-13. Amount of Annuity Payments; Federal Law Maximum Benefit
§18-7B-14. Supplemental Annuity Contracts
§18-7B-16. Years of Employment Service
§18-7B-17. Deposits to the Members' Annuity Accounts
§18-7B-19. Benefits Not Forfeited if System Terminates
§18-7B-20. Prohibition of Involuntary Cash-Outs
§18-7B-21. Correction of Errors; Underpayments; Overpayments