Bill > SB1035

This bill makes several changes to the Judges' Retirement System, primarily affecting judges appointed or elected after July 1, 2005. It clarifies eligibility for retirement benefits for these judges, allowing Justices of the West Virginia Supreme Court of Appeals, Intermediate Court of Appeals Judges, Circuit Court Judges, and Family Court Judges appointed or elected after that date to receive benefits under certain conditions. The bill also modifies how retirement benefits are calculated for judges who retire before age 65, introducing an actuarially reduced pension benefit, meaning the pension amount will be lower to account for the earlier retirement. Additionally, it increases the benefit paid to surviving spouses of judges from 40% to 50% of the judge's salary at the time of death or retirement, and removes a previous limitation that tied this benefit to a judge's "final average salary" for those appointed after July 1, 2005, ensuring it's based on the judge's actual salary. Finally, the bill eliminates distinctions in how benefits are calculated for surviving spouses and dependent children, and for adjusted annual retirement benefits, creating a more uniform system.

Budget and Finance, Labor and Employment

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=1035&year=2026&sessiontype=RS&btype=bill