Bill > HB4154

This bill mandates that all West Virginia public employee retirement agencies provide an annual cost-of-living adjustment (COLA) to retirees who have been retired for over ten years, with the first payment due by June 30, 2026. A COLA is an increase in retirement benefits designed to help retirees keep pace with inflation, ensuring their purchasing power doesn't erode over time. This provision applies to retirees who voluntarily retired in good standing and under normal circumstances, and it is subject to limitations set by Section 415 of the Internal Revenue Code, which places caps on retirement plan benefits. The bill also specifies that if a retiree has passed away, any eligible beneficiary receiving their annuity will receive a pro-rata share of the COLA, and the Legislature will review the potential for future COLA increases for retirees every ten years.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=4154&year=2026&sessiontype=RS&btype=bill