Bill > SB934

This bill modifies the West Virginia Natural Resources Police Officer Retirement System by increasing the "accrued benefit," which is the calculated retirement benefit for a member. Specifically, for members retiring after July 1, 2026, their accrued benefit will be calculated as two and three-fourths percent of their "final average salary" (the average of the highest annual compensation over five consecutive years within their last 10 years of service) multiplied by their years of "credited service" (which includes service as a Natural Resources Police Officer, active military duty, and eligible leave time). This change is intended to improve retirement benefits for these officers. Additionally, the bill mandates a one-time payment of $4,250,000 from the Division of Natural Resources to the retirement fund by July 31, 2026, to help finance these increased benefits, though the retirement board may reduce this amount if it determines a lower payment will fully fund the system.

Labor and Employment

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=934&year=2026&sessiontype=RS&btype=bill