SB 1035
Relating to Judges' Retirement System
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill modifies the West Virginia Judges’ Retirement System. It temporarily suspends court contributions to the system until a specific funding condition is met. It also establishes that retirees under the post-2005 system will be treated the same as those under the pre-2005 system. The bill includes provisions for actuarially reduced pension benefits for judges in certain circumstances, increased benefits for surviving spouses, and the elimination of limitations on retirement benefit increases, as well as distinctions between judges for benefit calculations.
Key provisions
- Suspends court contributions to the Judges’ Retirement System until the fund is fully funded.
- Treats post-2005 retirement system retirees as pre-2005 retirees.
- Provides for actuarially reduced pension benefits for judges in specific situations.
- Increases the surviving spouse plan benefit for certain judges.
- Eliminates limitations on retirement benefit increases.
- Eliminates distinctions between judges for calculating surviving spouse and dependent children plan benefits.
- Establishes a process for determining eligibility for military service credit.
- Requires the State Auditor to ensure continued employee contributions to the system.
Who is affected
- West Virginia Judges
- Judicial Retirement Fund Participants
- Spouses of Retired Judges
- Dependent Children of Retired Judges
- State taxpayers
Notable changes
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