West Virginia Code
Article 22. Retirement Benefits Generally; Policemen's Pension and Relief Fund; Firemen's Pension and Relief Fund; Pension Plans for Employees of Waterworks System, Sewerage System or Combined Waterworks and Sewerage System
§8-22-4. Board of Trustees

The governing body of each such city desiring to establish and maintain a fund as authorized in sections two through fourteen of this article shall by ordinance provide for a board of trustees of the fund.
The said board of trustees shall consist of the mayor and four members of the fund, to be appointed by the mayor, with the advice and consent of a majority of the members of the fund. The initial appointments shall be for a term of one, two, three and four years, respectively, after which all appointments shall be for a term of four years.
The presiding officer of the board shall be the mayor, and the secretary thereof shall be appointed by said board. It shall be the duty of such secretary to keep a full and permanent record of all the proceedings of the board, and said board may fix his compensation for this work which shall be paid out of said fund.
The mayor or any three members of the board shall have the power to call a meeting at any time that it is necessary in order to carry out the business of the board. Three members of the board shall constitute a quorum to transact business, but it shall require three or more affirmative votes to pass any matter before the board.
The board shall have charge of and administer the fund and shall order payments therefrom, and no money shall be paid out of the fund except upon the order of the board.
The governing body shall have plenary power and authority to make any and all rules and regulations pertaining to the fund not inconsistent with the provisions of sections two through fifteen of this article, the Constitution and the laws of this state.
Such board shall be a public corporation by the name and style of "The Board of Trustees of the Employees Retirement and Benefit Fund of (name the city)," by which name the board may sue and be sued, plead and be impleaded, contract and be contracted with, take and hold real and personal property, for the use of said fund, and have and use a common seal. Said board may also in its corporate name do and perform any and all other acts and business pertaining to the trust created hereby or by any conveyance, devise or dedication made for the uses and purposes of said board.

Structure West Virginia Code

West Virginia Code

Chapter 8. Municipal Corporations

Article 22. Retirement Benefits Generally; Policemen's Pension and Relief Fund; Firemen's Pension and Relief Fund; Pension Plans for Employees of Waterworks System, Sewerage System or Combined Waterworks and Sewerage System

§8-22-1. Membership in Public Employees Retirement System

§8-22-2. Class I, II and III Cities Empowered and Authorized to Establish and Maintain &Quot;employees Retirement and Benefit Fund" or to Maintain Such Fund Heretofore Established

§8-22-3. Definitions

§8-22-4. Board of Trustees

§8-22-5. Employees Eligible for Participation in Fund

§8-22-6. Contributions; Prior, Earned and Total Service Credits; Service Breaks

§8-22-7. Retirement Pensions

§8-22-8. Disability Pensions; Annuities

§8-22-9. Death Benefits; Return of Contributions

§8-22-10. Contributions by City

§8-22-11. Investment of Funds

§8-22-11a. Restrictions on Investment

§8-22-12. Individual Accounts; Actuarial Data; Tables

§8-22-13. Reports by Board of Trustees

§8-22-14. Custodian of Fund; Duties; Bond

§8-22-15. Action by City Required Before New Provisions Are Applicable

§8-22-16. Pension and Relief Funds for Policemen and Firemen; Creation of Boards of Trustees; Definitions; Continuance of Funds; Average Adjusted Salary

§8-22-16a. Legislative Findings

§8-22-17. Powers and Duties of Boards of Trustees; Training

§8-22-18. Members of Board of Trustees; How Elected; Presiding Officers; Secretary

§8-22-18a. West Virginia Municipal Pensions Oversight Board Created; Powers and Duties; Management; Composition; Terms; Quorum; Expenses; Reports

§8-22-18b. Creation of Municipal Pensions Security Fund; Transfer of Certain Powers, Duties and Functions of Treasurer's Office to Municipal Pensions Oversight Board

§8-22-18c. Notice of Legal Actions by or Against Municipal Policemen's and Firemen's Pension Funds

§8-22-19. Levy to Maintain Fund

§8-22-19a. Refunds of Member Contributions

§8-22-20. Actuary; Actuarial Valuation Report; Minimum Standards for Annual Municipality Contributions to the Fund; Definitions; Actuarial Review and Audit

§8-22-20a. Hiring of Actuary; Preparation of Actuarial Valuations

§8-22-21. Duties and Bond of Custodian of Funds

§8-22-22. Investment of Funds by Boards of Trustees; Exercise of Discretion in Making Investments; Report of Investment Plan

§8-22-22a. Restrictions on Investments; Diversification of Investments; Disclosure of Fees and Costs

§8-22-23. Rules and Regulations as to Distribution of Funds; Proof of Age

§8-22-23a. Eligibility for Total and Temporary Disability Pensions and Total and Permanent Disability Pensions; Reporting; Light Duty

§8-22-24. Disability Pensions

§8-22-25. Retirement Pensions

§8-22-25a. Deferred Retirement Option Plans; Authorization; Requirements; Limitations

§8-22-25b. Right to Benefits Not Subject to Execution, etc.; Assignments Prohibited; Deductions for Group Insurance; Setoffs for Fraud; Exception for Certain Domestic Relations Orders; Assets Exempt From Taxes

§8-22-26. Death Benefits

§8-22-26a. Supplemental Pension Benefits Entitlement; Benefit Payable; Application of Section; Construction

§8-22-27. General Provisions Concerning Disability Pensions, Retirement Pensions and Death Benefits

§8-22-27a. Correction of Errors; Underpayments; Overpayments

§8-22-27b. Fraud; Penalties; and Repayment

§8-22-28. Period in Which Payments Limited to Income From Fund; Reduced Payments Where Fund Insufficient

§8-22-28a. Distribution of Remaining Assets in a Closed Municipal Policemen S or Firemen S Pension and Relief Fund

§8-22-29. Pension Plans for Employees of Waterworks System, Sewerage System or Combined Waterworks and Sewerage System May Be Continued