defined contribution system. The board has all powers necessary to effectuate the purposes of this article. The board shall contract with a private pension, insurance, annuity, mutual fund or other qualified company or companies to administer the day-to-day operations of the system. In selecting such company or companies the board shall take into account as its highest duty,e the proper safeguard and protection of the member and employer contributions and the interest dividends, or other return thereon. The board shall promulgate rules rergarding the proper investment of funds notwithstanding the provisions of article six, chapter twelve of this code.
‹ Prev All West Virginia sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.