 |
|
TOTAL TRANSFERS |
15,152 |
78.3% Actively Contributing Members |
|
 |
 Emergency Medical Services Retirement System |
 |
 |
 |
 |
 |
 |
|
|
TOTAL TRANSFERS |
15,152 |
78.3% Actively Contributing Members |
|
|
Emergency Medical Services Retirement System |
|
|
|
|
|
|
Due to the increased number of members needing assistance prior to the deadline, CPRB business hours will be extended on the last two days of the buy back period as follows:
Monday, June 29: 8 A.M. - 7 P.M.
Tuesday, June 30: 8 A.M. - 8 P.M.
Click here to access our Press Release regarding our extended hours.
Please be aware that the statutory deadline of June 30, 2009, is fast approaching for Teachers’ Retirement System (TRS) transfer members to purchase the additional 25% Teachers’ Defined Contribution (TDC) service credit, as provided by WV Code §18-7D-6. As you may know, the CPRB has been delayed in processing final cost calculations due to inaccuracies in service and salary information submitted by participating employers.
During the 2009 Regular Legislative Session, House Bill 2870 was passed to allow certain TRS transfer members an extended period of time to purchase the additional 25% TDC service credit. For TRS transfer members who submitted a "Verification of Cost for Service Credit Purchase" form to the CPRB by April 11, 2009, and who did not receive a "Verified Exact Cost" letter by April 2, 2009, these TRS members will have 90 days from the postmark date of the "Verified Exact Cost" letter to pay for their additional 25% TDC service credit. All other TRS transfer members must pay in full by June 30, 2009 in order to purchase the additional 25% TDC service credit.
REMINDER: Members transferring from TDC to TRS must return the TRS Enrollment form, Pre-Retirement Beneficiary Designation form and the optional form to request Verification of Cost for Service Credit Purchase directly to the Consolidated Public Retirement Board (CPRB) at the following address:
West Virginia Consolidated Public Retirement Board
4101 MacCorkle Avenue, S.E.
Charleston, WV 25304
*Please complete all forms in blue ink and send originals by mail only.
(CPRB cannot accept copied or faxed forms).
Letter mailed to the participants:
June 12, 2008
Dear Teachers’ Defined Contribution Retirement System (TDC) Member:
The Consolidated Public Retirement Board has accepted your selection form to transfer to the West Virginia Teachers’ Retirement System (TRS). Enclosed please find your TRS Enrollment form and a Pre-Retirement Beneficiary Designation form which you should return to us as soon as possible. In addition, I have enclosed an optional form requesting verification of the cost to purchase the 25% TDC service necessary to receive 100% service credit in TRS. Please complete this form and return it to us if you believe you want to purchase the additional service and want to know the actual cost.
As you know, the transfer to TRS will occur on July 1, 2008; however, in order to be eligible to retire from TRS you are required by statute to work a minimum of one hour and make a contribution to TRS subsequent to the effective date of the transfer (WV Code §18-7D-5). Members who become eligible to retire from TRS upon the effective date of the transfer may not commence retirement until September 1, 2008, in accordance with the provisions of WV Code §18-7D-6.
If you should have any questions, please contact the CPRB at 1-800-654-4406.
