Teachers retirement plan hearing set for Monday

By The West Virginia Record | Apr 26, 2006

CHARLESTON - Kanawha Circuit Judge Paul Zakaib will hold a hearing to discuss an injunction filed on behalf of West Virginia teachers who are seeking to block the merger of the state's two retirement plans.

The hearing will be 10:30 a.m. on Monday.

The lawsuit was filed April 13 by Charleston attorney Jim Lees, who is representing nearly 3,000 teachers who wish to avoid having their retirement funds taken because of the merger.

A statewide vote of teachers resulted in the switch of retirement plans used, but Lees has several beefs with what has happened.

"Simply give people the option," he said. "Let them take their money and roll it over into the defined benefits plan, or let them put it into an (Individual Retirement Account) or another retirement mechanism.

"In other words, don't force them to put their money back into one retirement plan."

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