Navigation Menu

West Virginia Consolidated Public Retirement Board Celebrates 25th Anniversary of its Creation

8/16/2016

The West Virginia Consolidated Public Retirement Board (CPRB) celebrated the 25th anniversary of its creation at its board meeting on July 20, 2016. The agency was created by the State Legislature in 1991, with an effective date of July 1, 1991. 

At that time, the five plans administered by the CPRB included the Public Employees Retirement Board (PERS), the Teachers Retirement Board (TRS), the Teachers Defined Contribution (TDC), the Judges Retirement Plan (Judges) and the Division of Public Safety (State Police Plan A). The State Police Plan A was closed in 1994; however, the State Police Plan B was created simultaneously. The TDC plan was closed in 2005, but the state created the Emergency Medical Service Retirement System in 2008 and the Municipal Police and Firefighters Retirement System in 2010.

Many successes have been realized over the past 25 years, according to CPRB Executive Director Jeff Fleck. “In 1991, the Teachers Retirement System was only 10% funded. Today, this plan is funded at 66%, the best it has been in decades. Our PERS plan is funded at 87%.”

CPRB Chairman David Wyant has served on the board since its inception. “This is a special day in that it has been 25 years since the Consolidated Public Retirement Board was put in place,” Chairman Wyant said. “It was the idea and guidance of our 31st Governor of the State of West Virginia, Gaston Caperton, who brought the bill to the Legislature and that was subsequently passed.”

Governor Caperton attended the CPRB meeting today and shared his thoughts. “This organization brings security, comfort and professionalism to state employees and their families and I thank you for the work you are doing,” he said. “What you show here is the professionalism and commitment you have to have in state government. There is no better example in how government is working well. I celebrate your success with you today.”

Also in attendance were current employees who have been with CPRB in 1991. The employees are Susan Estep, Garry Shively, Diana Lunsford, Theresa Kline and Diana Davis. The original minutes of the first meeting were also available at the meeting.
 
Photographs from the meeting are available on the Department of Administration's Flickr page.




Contact Information

Diane Holley-Brown (304) 558-0661