Beckley, Bluefield & Lewisburg News, Weather, SportsWV Governor to Sign Retirement Funding Bill

WV Governor to Sign Retirement Funding Bill

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CHARLESTON, W.Va. (AP) -

West Virginia's county school boards are getting a $485 million break from retiree health care costs.
    
That's one estimated effect of legislation that Gov. Earl Ray Tomblin plans to sign Monday, Feb. 20 to address so-called other post-employment benefits.
    
These non-pension costs are also known as OPEB. They mostly reflect health coverage promised to public employees once they retire.
    
County school boards have complained for years that the state should shoulder the bulk of these costs. That's because the state school aid formula funds at least 80 percent of a county's teachers and school personnel.
    
Proposed by Tomblin, the legislation dedicates annual tax revenues toward these costs. It embraces various medical cost-cutting measures and changes benefits for future retirees.
    
Some groups representing retirees say some of these steps are unfair.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)