Retirement Program


Retirement ProgramAMENDED AND RESTATED
WEST VIRGINIA RACING COMMISSION
RETIREMENT PLAN FOR BACKSTRETCH PERSONNEL

The West Virginia Racing Commission (the “Racing Commission”), a governmental agency of the State of West Virginia, adopted the following retirement plan, to be known as the West Virginia Racing Commission Retirement Plan for Backstretch Personnel (the “Retirement Plan”), effective September 17, 2012. The Racing Commission hereby amends and restates the Retirement Plan effective January 1, 2014.

The Retirement Plan is established for Backstretch Personnel pursuant to West Virginia Code section 19-23-9, and shall be sponsored, maintained and administered for the public purpose of enabling the State of West Virginia to utilize specified tax revenue to provide retirement benefits to such eligible Backstretch Personnel as provided herein.

Participation. An individual shall be eligible to become a Participant in the Plan provided the individual meets the following requirements:

is at least 18 years of age as of the first day of the Plan Year;

  • is not an employee of the Racing Commission during any portion of the current Plan Year; and
  • meets the requirements of (1) or (2) below.
    1. is an Assistant Trainer or Backstretch Worker who has been issued an occupational permit by the West Virginia Racing Commission for any portion of the current Plan Year and meets the compensation requirements of Section 1.11; except that if an Assistant Trainer or Backstretch Worker does not meet this earnings requirement in a Plan Year due solely to maternity leave upon the birth or adoption of a child, this compensation requirement shall be waived but only for the Plan Year in which the child is born or adopted; or
    2. is an Eligible Trainer for the applicable Plan Year. A trainer of thoroughbred race horses who has been issued a valid occupational permit by the West Virginia Racing Commission and who stables the horses that he or she trains at an Eligible Race Track or at an approved training facility and/or farm associated with racing at an Eligible Race Track and who makes at least 75% of his or her total racing starts in any Plan Year (including starts at any race track whether located within West Virginia or elsewhere) at an Eligible Race Track, but not less than 18 starts at an Eligible Race Track during the applicable Plan Year. Starts at ineligible racetracks shall not accumulate against a Trainer’s total starts when a participating track is dark for more than fourteen (14) consecutive days.

Vesting.
(a) Vesting for Pre-2012 Annual Allocation Account. A Participant shall become vested in the amounts allocated to his or her Pre-2012 Annual Allocation Account, if any, based on the following vesting schedule:

Service Years Vested Percentage of Annual Addition to a Participant’s Account
Less than 5 Service Years 0%
5 Service Years or more 100%

(b) Vesting for Post-2011 Annual Allocation Account. A Participant shall become vested in the amounts allocated to his or her Post-2011 Annual Allocation Account, if any, based on the following vesting schedule:

Service Years Vested Percentage of Annual Addition to a Participant’s Account
Less than 7 Service Years 0%
7 Service Years or more 100%

For purposes of this paragraph (b), the term “Service Years” shall be limited to Service Years on and after January 1, 2010.

(c) Vesting at Normal Retirement Age. Notwithstanding paragraphs (a) and (b) above, a Participant shall become 100% vested in his or her Allocation Account upon attainment of Normal Retirement Age.

Members must sign up each year. Sign up is during the Spring of each year for the previous program year. Forms are available on our website or at the Mountaineer HBPA office.