The income fund is hereby created. It shall be the fund to which shall be credited all interest, dividends and other income from investments of the retirement system, all transfers from the members deposit fund by reason of lack of claimant or forfeiture of interest credits, and all other moneys received by the retirement system, the disposition of which is not specifically provided for in this article. The board of trustees may accept gifts and bequests and same shall be credited to the income fund. There shall be paid or transferred from the income fund all amounts required to credit regular interest to the members deposit fund, employers accumulation fund, and the retirement reserve fund, as provided in this article. Whenever the board determines that the balance in the income fund is more than sufficient to cover the current charges to the fund, the board may, by resolution, provide for contingency reserves, or for the transfer of such excess, or portions thereof, to cover the needs of the other funds of the retirement system.
Structure West Virginia Code
Article 10. West Virginia Public Employees Retirement Act
§5-10-3. Retirement System Created and Established; Body Corporate
§5-10-4. Effective Date of System
§5-10-5. Board of Trustees Created; Powers and Duties Generally; Composition
§5-10-6. Trustees' Terms of Office
§5-10-8. Trustees' Compensation and Expenses
§5-10-10. Board Meetings; Quorum; Vote; Proceedings
§5-10-11. Reports Required of Board
§5-10-12. Officer and Employee Bonds
§5-10-13. Actuarial Investigations and Valuations; Specification of Actuarial Assumptions
§5-10-14. Service Credit; Retroactive Provisions
§5-10-15. Military Service Credit; Qualified Military Service
§5-10-15b. Credit for Public Employment in Another State
§5-10-15c. Military Service Credit for Members of the West Virginia National Guard
§5-10-16. When and How Political Subdivision Becomes Participating Public Employer
§5-10-17. Retirement System Membership
§5-10-18. Termination of Membership; Reentry
§5-10-19. Employers to File Information as to Employees Service
§5-10-20. Voluntary Retirement
§5-10-21. Deferred Retirement and Early Retirement
§5-10-21a. Deferred Retirement and Early Retirement for New Members as of July 1, 2015
§5-10-22a. Supplemental Benefits for Certain Annuitants
§5-10-22b. Supplemental Benefits for Certain Annuitants
§5-10-22d. Supplemental Benefits for Certain Annuitants
§5-10-22g. One-Time Supplement for Certain Annuitants Effective July 1, 2001
§5-10-22h. Limitations on Benefit Increases
§5-10-22i. One-Time Supplement for Certain Annuitants Effective July 1, 2006
§5-10-22j. One-Time Bonus Payment for Certain Annuitants Effective July 1, 2008
§5-10-22k. One-Time Bonus Payment for Certain Annuitants Effective July 1, 2011
§5-10-22l. Minimum Benefit for Certain Retirants
§5-10-23. Terminal Payment Following Retirement
§5-10-25. Disability Retirement
§5-10-26. Reexamination of Disability Retirants; Reemployment; Adjustment of Annuity for Earnings
§5-10-27. Preretirement Death Annuities
§5-10-27a. Federal Law Maximum Benefit Limitations
§5-10-27b. Federal Law Minimum Required Distributions
§5-10-27d. Rollovers and Transfers to Purchase Service Credit Or
§5-10-28. Unified Accounting; Funds
§5-10-29. Members' Deposit Fund; Members' Contributions; Forfeitures
§5-10-30. Refund of Accumulated Contributions
§5-10-31. Employers Accumulation Fund; Employers Contributions
§5-10-34. Transfers to Retirement Reserve Fund
§5-10-35. Retirement Reserve Fund Created; Transfers From Fund on Reemployment
§5-10-39. No Trustee, etc., Shall Gain From Investments of System
§5-10-40. Restricted Use of Retirement System Moneys
§5-10-41. Allowance of Regular Interest on Balances in Funds
§5-10-42. Fiscal or Plan Year of Retirement System
§5-10-43. Pro Rata Reduction of Annuities
§5-10-44. Correction of Errors; Underpayments; Overpayments
§5-10-47. Benefits Exempt From Taxes
§5-10-48. Reemployment After Retirement; Options for Holder of Elected Public Office