To: The West Virginia State House, The West Virginia State Senate, and Governor Jim Justice
Teachers Retirement Discrimination
We petition the State of West Virginia to allow employees of Boards of Education another opportunity to transfer from the Teachers Defined Contribution Retirement plan to The Teachers Retirement Plan.
The Legislature must write new legislation to allow this to happen. Current law does not allow the Retirement Board any room for changes.
The Legislature must write new legislation to allow this to happen. Current law does not allow the Retirement Board any room for changes.
Why is this important?
When the vote was taken in 2008 to allow BOE employees to transfer out of the TDC (Teachers Defined Contribution) to the old Teachers Defined Benefits there were several people in WV who did not understand what was going on or who were off sick and did not vote. Those employees are forever stuck in a plan that is not equal to those who transferred and to all new employee being hired. Those locked in the TDC plan will never accumulate enough money to be able to retire. I personally one of those who does not have enough to retire on in the TDC plan, but if I could tranfer to the TRS I would be entitled to 36% of my current salary for the rest of my life......so unfair. Please correct this injustice to Teachers and Service personnel