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Bill > HB5056
WV HB5056
WV HB5056Permit beneficiary under the State Teachers Retirement System to convert to the maximum life annuity if the spouse dies within the first five years of the beneficiary’s retirement
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/02/2026
02/02/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
The purpose of this bill is to permit a beneficiary under the State Teachers Retirement System who has been approved for a retirement with a joint life annuity to convert to the maximum life annuity if the spouse dies within the first five years of the beneficiary’s retirement.
AI Summary
This bill allows a beneficiary of the State Teachers Retirement System who chose a joint life annuity, which pays benefits to both the beneficiary and their spouse for their lifetimes, to switch to a maximum life annuity, which pays the highest possible monthly benefit to the beneficiary alone, if their spouse dies within the first five years of the beneficiary's retirement. The beneficiary must provide proof of the spouse's death to the retirement board to make this change, and this option can only be used once. The recalculated monthly benefit cannot exceed what the maximum life annuity would have been at the time of the original retirement.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
To House Finance (on 02/02/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=5056&year=2026&sessiontype=RS&btype=bill |
| BillText | http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=hb5056%20intr.htm&yr=2026&sesstype=RS&i=5056 |
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