W. Va. Code R. § 162-8-5 - Teachers' Retirement System

5.1. Service Credit for Accrued Unused Sick and Annual Leave. - The Board shall give members of the Teachers' Retirement System first hired prior to July 1, 2015 who elect, under the provisions of W. Va. Code § 5-16-13(f), to convert accrued and unused sick and annual leave to additional retirement system service credit any additional credit to which the member is entitled based upon the number of accrued and unused sick and annual leave days which stand to the member's credit with the member's last employer at the time of retirement. Any unused sick and annual leave days accrued and which stand to the member's credit with any participating public employer prior to the member's last participating public employer, and which are not transferable to or recognized by the member's last participating public employer, are not used to calculate service credit. In interpreting, applying and administering this rule and subject to the limitations found in subsection 5.2. of this rule, the Board shall be deferential to 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 employee's annual and sick leave policy to be recognized by the Board, the policy shall have been formally adopted in writing by the employer.

5.2. Calculation of Service Credit for Accrued Unused Sick and Annual Leave. - The conversion of accrued leave to service credit shall be made in a manner consistent with the provisions of Teachers' Retirement System, 162 CSR 4 and W. Va. Code § 5-16-13(f). The Consolidated Public Retirement Board may request information from the member and/or the member's last or prior employers in order to determine the proper amount of retirement system service credit the member is entitled to receive for his or her accrued sick and annual leave. The conversion of accrued sick and annual leave to additional service credit shall be based upon the information received by the Board from the member's employer.

5.3. Deferred Retirement. - A member of the Teachers' Retirement System who ceases employment prior to retirement or who takes a deferred retirement may not use accumulated unused sick and annual leave for additional retirement service credit, unless the Teachers' Retirement System member continues to be a covered employee with the West Virginia Public Employees Insurance Agency as defined in W. Va. Code § 5-16-2(3) at the time his or her retirement annuity commences.

5.4. 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.

Notes

W. Va. Code R. § 162-8-5