Quantcast

Mountain State Times

Saturday, December 21, 2024

Breaking Down West Virginia's Pension Contributions: $1.1 million collected in 2022

Webp vslmsz7tqayooo17czskvte3sqe7

West Virginia Senate President - Lt. Governor Craig Blair | wvlegislature.gov/senate1/president.cfm

West Virginia Senate President - Lt. Governor Craig Blair | wvlegislature.gov/senate1/president.cfm

In 2022, West Virginia had received $1.1 million in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau's Annual Survey of Public Pensions.

Of that amount, $887,749 was in state pension funds, and the remaining $184,081 was in local government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

It's worth noting that residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming are not subject to state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

West Virginia reported data from 66 pension systems, including nine state-level pension funds and 57 local-level systems. The total number of pension system members was 182,971 (178,416 at the state level and 4,555 at the local level).

Contributions to West Virginia's public pension funds
LocalStateLocal & State
Employee contributions$8,814$193,342$202,156
Government contributions$175,267$694,407$869,674
Total Contributions$184,081$887,749$1,071,830
Source: US Census Bureau

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS