Today marks D-Day in the campaign to allow teachers and others to leave West Virginia's only public 401(k)-style retirement plan for another state-run pension program.

Though enrollees have until May 12 to elect to transfer, today is when they can hand in the necessary forms at their schools or offices.

Officials expect heavy turnout for "Selection Day." Supporters certainly hope that's the case: just 2,251 Teachers' Defined Contribution plan participants had requested transfers as of Friday, according the latest figure posted by the state's Consolidated Public Retirement Board.

Transfers will occur only if at least 65 percent, or 12,343 enrollees, make that choice. Those who don't would still keep their individual TDC accounts.

Ben Shew is among those who remain happy with their accounts, in which enrollees invest contributed funds to generate retirement benefits. Director of school transportation at the state Department of Education, Shew helped oppose the attempted 2005 merger of the two teacher retirement programs.

Shew has urged fellow TDC members to sit down with a professional investment adviser before deciding whether to transfer.

"People need to look at this from an individual standpoint, and not a group standpoint," Shew said. "If you don't really comprehend your options, you could end up making a really bad decision and not realize it until it's too late."

Shew noted that the personalized benefit projections mailed earlier to enrollees assume future annual pay raises of between 3 percent and 6 percent. He and others question whether those were realistic.

"When have we ever consistently had 6 percent raises? It just hasn't happened," said Judy Hale, president of the American Federation of Teachers-West Virginia. "There have been times when we have gone years without any raises."

Enrollees can tinker with those and other variables on the Web site set up for them to calculate future benefits under either plan.

Besides a series of recent statewide pay hikes, including a $1,600 one approved this year, a number of counties also supplement their teachers' pay.

"They can go and put their own numbers in," said Anne Lambright, the board's executive director. "Whatever number they think their county is going to give them, they can put it in."

If successful, the transfers would join the Teachers' Retirement System. It guarantees a benefit based on years of service and final salaries. But transfers would receive only 75 percent of normal benefits, because system members have been paying more of their annual salaries toward their pensions, 6 percent versus 4.5 percent for TDC.

Today marks D-Day in the campaign to allow teachers and others to leave West Virginia's only public 401(k)-style retirement plan for another state-run pension program.

Though enrollees have until May 12 to elect to transfer, today is when they can hand in the necessary forms at their schools or offices.

Officials expect heavy turnout for "Selection Day." Supporters certainly hope that's the case: just 2,251 Teachers' Defined Contribution plan participants had requested transfers as of Friday, according the latest figure posted by the state's Consolidated Public Retirement Board.

Transfers will occur only if at least 65 percent, or 12,343 enrollees, make that choice. Those who don't would still keep their individual TDC accounts.

Ben Shew is among those who remain happy with their accounts, in which enrollees invest contributed funds to generate retirement benefits. Director of school transportation at the state Department of Education, Shew helped oppose the attempted 2005 merger of the two teacher retirement programs.

Shew has urged fellow TDC members to sit down with a professional investment adviser before deciding whether to transfer.

"People need to look at this from an individual standpoint, and not a group standpoint," Shew said. "If you don't really comprehend your options, you could end up making a really bad decision and not realize it until it's too late."

Shew noted that the personalized benefit projections mailed earlier to enrollees assume future annual pay raises of between 3 percent and 6 percent. He and others question whether those were realistic.

"When have we ever consistently had 6 percent raises? It just hasn't happened," said Judy Hale, president of the American Federation of Teachers-West Virginia. "There have been times when we have gone years without any raises."

Enrollees can tinker with those and other variables on the Web site set up for them to calculate future benefits under either plan.

Besides a series of recent statewide pay hikes, including a $1,600 one approved this year, a number of counties also supplement their teachers' pay.

"They can go and put their own numbers in," said Anne Lambright, the board's executive director. "Whatever number they think their county is going to give them, they can put it in."

If successful, the transfers would join the Teachers' Retirement System. It guarantees a benefit based on years of service and final salaries. But transfers would receive only 75 percent of normal benefits, because system members have been paying more of their annual salaries toward their pensions, 6 percent versus 4.5 percent for TDC.

The transfer plan allows makeup payments to secure that additional 25 percent. The amount will depend on how many TDC enrollees transfer. The state has promised to subsidize these payments - but only if 75 percent or more move.

Lambright's office has included those makeup costs in the personalized statements, where they have caused a sort of sticker shock.

"You get down to the bottom of the page, and it just gives you a massive coronary," said Carolyn Welder, whose husband has driven a school bus for Cabell County since the early 1990s and turns 64 later this year.

Welder supports the transfer, but fears TDC enrollees may not realize that the makeup payments are optional.

"The word needs to get out that if they do nothing but elect to transfer, they're going to have more of a retirement check in the end without making that payment," she said. "The buyback is not necessary."

Lawmakers provided for the voluntary switch-overs after fielding complaints that TDC accounts weren't yielding enough returns for retirement. Blame has ranged from negligent oversight by individual enrollees and shoddy advice from state-hired consultants to the inherent risks of playing the stock market.

The transfer selection process began April 1. Some advocates have sought more time, without success.

A final tally of transfers is due June 1. That's because the state's budget year ends June 30, and TDC enrollees need to decide by then whether they will retire before the next school year. The board, in turn, needs time to liquidate the individual accounts of those who elect to transfer and relay the proceeds into the other program's fund.

"We can't do it in less than one month," Lambright said. "Some people have five or six investments. It's a very, very complicated process ... We're stretched out as far as we can go."

Despite the tight time window, transfer supporters believe they can still meet the threshold.

"I do feel better about things, based on the workshops our staff did this week all over the state," Hale said. "We've gotten to as many people as we can."

Charles DeLauder, president of the West Virginia Education Association, estimates that sentiment ran nine-to-one in favor of transferring at the hundreds of presentations his group has held across West Virginia. He also advises enrollees who elect to transfer to sign their forms in blue ink, make a copy and get a receipt.