SB 127
Providing cost-of-living adjustment for certain PERS and State Teachers Retirement System retirees
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill provides a $1,000 cost-of-living adjustment to retirees of the Public Employees Retirement System (PERS) and the State Teachers Retirement System. The adjustment will be paid in full by June 30, 2026, to those currently receiving annual retirement annuities. Additionally, the adjustment will be distributed proportionally to any beneficiaries of qualifying retirees who also receive annuities or other benefits from the systems.
Key provisions
- Provides a $1,000 cost-of-living adjustment to PERS and State Teachers Retirement System retirees.
- The adjustment must be paid in full by June 30, 2026.
- The adjustment applies to retirees currently receiving annual retirement annuities.
- The adjustment is subject to limitations under Section 415 of the Internal Revenue Code.
- The adjustment is distributed pro rata to beneficiaries of qualifying retirees.
Who is affected
- Public Employees Retirement System (PERS) retirees
- State Teachers Retirement System retirees
- Retirees receiving annual retirement annuities
- Beneficiaries of qualifying retirees
Notable changes
- Adds new sections to the West Virginia Code to establish the cost-of-living adjustment.
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