The state Senate is on track to pass a bill that would give circuit judges a break on their retirement fund contributions.
The bill, which is on second reading in the Senate Tuesday, would reduce the contribution by the judges from the current 10.5 percent a year to 7 percent.
The reduced rate would be in effect for one year but following years it would be determined by the state Consolidated Public Retirement Board after reviewing an annual financial report looking at the retirement fund.
Sen. John Unger, D-Berkeley, expressed concern about the bill during the Senate Finance Committee meeting Monday. Unger said it was like a pay raise.
“In essence this may be the only group that actually gets an increase in take home pay,” Unger said. “About 4-thousand161 dollars a year.”
State Courts Administrator Steve Canterbury says the judge’s retirement fund is in great shape because the Supreme Court followed the lead of the Manchin administration and over-funded it for several years. He says the judges should be allowed to pay less.
“The judges were asked twice, in the 90s and later in 2005, to help pay for the unfunded liability. They paid their part and it’s now done,” Canterbury
He added the judge’s retirement fund is in such good shape it should be fully funded for at least the next 20 years. He also said not all judges are part of the system so it’s really not a pay raise.
