WV HB3129

Increases the accrued benefit multiplier for Natural Resources Police Officers retiring on or after January 1, 2027, from 2.5% to 2.75% of final average salary per year of credited service

Sets the employer contribution rate at 12% of each member's monthly salary, with the board authorized to annually review and adjust this rate based on actuarial findings

Requires a one-time payment of $4,250,000 from the Division of Natural Resources to the retirement fund by July 31, 2025, which may be reduced if the board determines a lower amount would achieve 100% or greater funding

Clarifies surviving spouse benefit provisions when a member with at least 10 years of contributing service dies from non-duty-related causes, providing either half of the deceased member's last 12 months of compensation or the joint survivor annuity amount, whichever is greater