Bill > SB451

This bill proposes an enhanced retirement benefit for a specific group of public employees in West Virginia who meet three key criteria: they are over 77 years old, retired before June 30, 2020, and have been receiving defined retirement benefits for at least 12 years. The enhancement provides these retirants with a monthly payment that is calculated as 103 percent of their original annual retirement payment from when they were 65 years old. Essentially, this means eligible retirees will receive a compounded 3% increase in their monthly retirement annuity, which is designed to provide additional financial support to long-time retired public employees who are now in their late 70s or older. The bill amends the West Virginia Public Employees Retirement Act by adding a new section (§5-10-22o) that specifically outlines these enhanced retirement benefits, offering a modest but meaningful boost to the retirement income of this particular group of retirees.

Labor and Employment

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=451&year=2025&sessiontype=RS&btype=bill