Bill > SB638

This bill provides a cost-of-living adjustment (COLA) for retirees in two public retirement systems: the Public Employees Retirement System (PERS) and the Teachers Retirement System (TRS). Starting July 1, 2025, eligible annuitants who are at least 60 years old and have been receiving retirement payments for a minimum of five years will automatically receive a monthly annuity increase. The adjustment amount will be directly tied to the annual increase in the Consumer Price Index (CPI), which is an economic indicator published by the U.S. Department of Labor's Bureau of Labor Statistics that measures the average change in prices paid by urban consumers for goods and services. This means retirees' monthly retirement payments will be incrementally increased to help their benefits keep pace with inflation, ensuring that their purchasing power remains more stable as the cost of living rises. The bill applies identical provisions to both the PERS and TRS retirement systems, creating a consistent approach to providing financial support for long-term retirees.

Labor and Employment

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=638&year=2025&sessiontype=RS&btype=bill