WV HB3193

Municipal police officers and firefighters who elected to transfer from the Public Employees Retirement System (PERS) to the Municipal Police Officers and Firefighters Retirement System (MPFRS) must pay a 4% contribution plus 7.5% interest by June 30, 2027

Officers or firefighters who fail to make the required payment will have their service years transferred back to PERS no later than December 31, 2027

Assets previously transferred to MPFRS will be returned to PERS, along with employee and employer contribution amounts that would have been paid had the member never transferred, plus 7.5% annual interest

Any excess employee contributions paid to MPFRS since the transfer date will remain in the plan until the employee terminates employment with the municipality