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WV SB61

Bill

Official Source

Status

Introduced

2/12/2025

Primary Sponsor

Mike Woelfel

Click for details

Origin

Senate

2025 Regular Session

AI Summary

  • Provides a one-time $1,000 cost-of-living adjustment to retirees of the Public Employees Retirement System (PERS) who currently receive an annual retirement annuity
  • Provides the same $1,000 cost-of-living adjustment to retirees of the State Teachers Retirement System who currently receive an annual retirement annuity
  • Requires full payment of the adjustment by June 30, 2025
  • Allows pro rata distribution of the cost-of-living adjustment to beneficiaries of qualifying retirees who currently receive annuity payments from either system
  • Adjustments are subject to applicable limitations under Section 415 of the Internal Revenue Code

Legislative Description

Providing cost-of-living adjustment for certain PERS and State Teachers Retirement System retirees

Retirement

Last Action

To Pensions

2/12/2025

Committee Referrals

Pensions2/12/2025

Full Bill Text

No bill text available