WV HB4889

Provides a 10% increase in retirement annuities for retirees of the Public Employees Retirement System (PERS) and State Teachers Retirement System, phased in over a three-year period beginning July 1, 2026

Applies to both retirees and their beneficiaries receiving benefits under either retirement system

Amends existing code sections that established minimum benefit thresholds of $1,000/month for retirees and $500/month for certain surviving beneficiaries (those at least 70 years old with 25+ years of service)

Excludes service time as elected public officials, temporary legislative employees, or certain higher education employees from minimum benefit calculations