WV HB5052

Provides a one-time 10% cost-of-living supplement to West Virginia Public Employees Retirement System retirees whose annual benefits are under $75,000

Eligibility requires retirees to be at least 65 years old and have received retirement benefits for at least five consecutive years as of July 1, 2027

Only applies to members who retired before the effective date of the legislation, or their beneficiaries already receiving benefits

Supplement is subject to IRS Section 415 limitations on retirement benefit amounts

Adds new section §5-10-56 to the West Virginia Code under the Public Employees Retirement Act