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WV HB2477

Bill

Official Source

Status

Introduced

2/17/2025

Primary Sponsor

Elliott Pritt

Click for details

Origin

House of Delegates

2025 Regular Session

AI Summary

  • Provides a 20% cost-of-living adjustment (COLA) to retirement benefits for retirees of the Public Employees Retirement System (PERS) and the State Teachers Retirement System
  • Applies to retirees who voluntarily retired from West Virginia in good standing and under normal circumstances, and who currently receive an annual retirement annuity
  • Requires the first payment to be made in full by June 30, 2025
  • Distributes the COLA pro rata to beneficiaries of qualifying retirees who currently receive annuity or other benefits from the retirement systems
  • Mandates the Legislature review this section every 10 years to assess potential COLA increases for future retirees

Legislative Description

To increase the COLA by 15% for all retired state employees

State Personnel

Last Action

To House Investments

2/20/2025

Committee Referrals

Investments2/20/2025
Finance2/17/2025

Full Bill Text

No bill text available