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    WV Senate proposes 15% cut in personal income tax

    Innovative construction method results in historic bridge build in Beckley

    McDonald’s employee stabs customer in neck during restroom robbery

    Pedestrian struck and killed by vehicle in Oak Hill

    Coal Fact for the Day: Rolling Coal on the River

    West Virginia Wesleyan College MBA Class Visits Mister Bee Potato Chips, Focuses on Challenges

    Capito, Miller respond to President Biden’s State of the Union address

    Character writing workshop scheduled at New River CTC

    Catbirds, Mockingbirds, and catch and release turkeys

    • Breaking
    • Crime
    • Local
    • National
      Members of the Navy work on a device on a vessel along the InterCoastal Waterway in North Myrtle Beach, S.C., Tuesday, Feb. 7, 2023. Using underwater drones, warships and inflatable vessels, the Navy is carrying out an extensive operation to gather all of the pieces of the massive Chinese spy balloon a U.S. fighter jet shot down off the coast of South Carolina on Saturday. (AP Photo/Nell Redmond)

      Navy divers begin pulling up Chinese spy balloon debris

      Biden aims to deliver reassurance in State of Union address

      A man carries the body of an earthquake victim in the Besnia village near the Turkish border, Idlib province, Syria, Monday, Feb. 6, 2023. A powerful earthquake has caused significant damage in southeast Turkey and Syria and many casualties are feared. Damage was reported across several Turkish provinces, and rescue teams were being sent from around the country. (AP Photo/Ghaith Alsayed)

      Rescuers scramble in Turkey, Syria after quake kills 3,400

      Photo Credit: Shutterstock

      Willie Nelson bests Luke Combs, Miranda Lambert, others for ‘Best Country Album’ award

      Today is National Weatherperson’s Day

      China says US shooting down balloon a ‘serious violation of international practice,’ threatens repercussions

      US downs Chinese balloon over ocean, moves to recover debris

      House passes immigration enforcement bill

      David William McConnell, 38, of Charlotte, NC

      Charlotte man sentenced to 10 years in prison for traveling to Beckley to have sex with minors

    • Politics

      WV Senate proposes 15% cut in personal income tax

      Capito, Miller respond to President Biden’s State of the Union address

      Senate Transportation advances bill requiring learner’s permit holders display “Student Driver” on vehicle

      West Virginia House OKs bill to encourage more birth centers

      UPDATE: Restructured math class for trade students bill passes unanimously through House

      Biden aims to deliver reassurance in State of Union address

      Biden 2024? Most Democrats say no thank you: AP-NORC poll

      House Gov Org Bill to Create WV Coalfields Energy Research and Economic Development Authority

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    • State

      WV Senate proposes 15% cut in personal income tax

      McDonald’s employee stabs customer in neck during restroom robbery

      Coal Fact for the Day: Rolling Coal on the River

      West Virginia Wesleyan College MBA Class Visits Mister Bee Potato Chips, Focuses on Challenges

      Senate Transportation advances bill requiring learner’s permit holders display “Student Driver” on vehicle

      House HHR Committee Advances Five Bills and Rejects One

      House approves bill to create vocational math class

      West Virginia House OKs bill to encourage more birth centers

      Summersville officers honored for lifesaving Narcan administration

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W.Va. Retirement Plus tops $300 million

Lootpress News Staff by Lootpress News Staff
Tuesday, March 9, 2021 10:14 am

CHARLESTON, WV (LOOTPRESS) – West Virginia Retirement Plus, the state’s officially sanctioned supplemental retirement program for public employees, has surpassed $300 million in total assets, a continuation of long-term growth that began 14 years ago.

The program checked in at $306 million in assets Dec. 9, with 18,191 participants. In 2006, State Treasurer John Perdue’s office assumed custody with only $68 million in assets spread across 5,022 participants.

By October of 2010, assets had grown to $100 million and by 2016 the plan had cracked the $200 million barrier. In addition to state agencies, there are now 308 other participating entities, which includes, among others, county commissions, school boards, municipalities and public service districts.

“I’m proud of hitting this milestone and the growth of the program,” Treasurer Perdue said. “I hope it will be viewed as a legacy of my administration. Nearly 20,000 people have seen their retirements grow more robust. We’ve worked very hard to grow those numbers. They didn’t happen by mistake.”

Participating organizations’ employees devote a certain amount to invest in an array of mutual funds each pay period. That money typically grows over time, managed by a third-party vendor with little continuing effort on behalf of the investor. Treasurers’ Office employees are on hand to serve as a link between the vendor and the office and to answer standard questions.

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