SB 774
Allowing certain county EMS officers to participate in EMS Retirement System
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill allows certain county emergency medical services (EMS) officers who currently participate in the Public Employees Retirement System to transfer to the Emergency Medical Services Retirement System. EMS officers who meet specific criteria and elect to do so by August 31, 2026, can transfer their accrued service and assets, with certain conditions and calculations. The bill also outlines the process for making this election, including how assets will be transferred and how service credit will be handled.
Key provisions
- Allows county EMS officers in the Public Employees Retirement System to elect to transfer to the Emergency Medical Services Retirement System.
- Establishes a deadline of August 31, 2026, for EMS officers to make the transfer election.
- Details the process for calculating the amount of assets to be transferred, using actuarial valuations and interest calculations.
- Specifies that transferred service credit will be calculated based on the active member’s funded percentage of liabilities.
- Outlines conditions for continued participation in other retirement systems.
- Provides a timeline for asset transfer by March 31, 2027.
- Establishes a repayment schedule for any difference in contributions between the two systems, with a deadline of December 31, 2030.
- Allows for retirement commencement after April 1, 2027.
Who is affected
- County Emergency Medical Services Officers
- West Virginia State Employees
- Members of the Public Employees Retirement System
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