HB 2521
To provide a 5% cost of living increase for state retirees who make under $60,000 per year
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill proposes a one-time cost-of-living supplement for eligible West Virginia state retirees. Specifically, it would provide a 10% increase to the annuity benefit for retirees who are at least 65 years old and have been receiving retirement benefits for at least five consecutive years, with an annual benefit of under $75,000. The supplement would be effective starting July 1, 2026. This adjustment aims to help retirees maintain their purchasing power due to rising costs.
Key provisions
- Provides a 10% cost-of-living supplement to retirement benefits.
- Applies to retirees aged 65 or older.
- Requires at least five consecutive years of retirement status.
- Limits the benefit to retirees with an annual retirement benefit under $75,000.
- The supplement is effective July 1, 2026.
- Applies to both retirees and beneficiaries receiving benefits prior to the effective date.
Who is affected
- West Virginia State Retirees
- Retirement System Members
- Retirement System Beneficiaries
Notable changes
- Introduces a one-time supplemental payment to existing retirement benefits.
- Establishes specific eligibility criteria based on age and years of service.
- Sets a maximum annual benefit limit of $75,000.
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