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WV HB5056

Bill

Official Source

Status

Introduced

2/2/2026

Primary Sponsor

Christopher Toney

Click for details

Origin

House of Delegates

2026 Regular Session

AI Summary

  • Allows State Teachers Retirement System beneficiaries with joint life annuity plans to convert to maximum life annuity if their spouse dies within the first five years of retirement
  • Currently, conversion to maximum life annuity is only permitted when a marriage is dissolved through divorce or annulment
  • Beneficiaries must provide proof of spouse's death to the retirement board to qualify for the conversion
  • Only one such retirement plan change is permitted per beneficiary regardless of the reason (divorce, annulment, or spouse's death)
  • Recalculated monthly benefits cannot exceed what would have been applicable under the maximum life annuity plan at the original retirement date

Legislative Description

Permit beneficiary under the State Teachers Retirement System to convert to the maximum life annuity if the spouse dies within the first five years of the beneficiary’s retirement

Retirement

Last Action

To House Finance

2/2/2026

Committee Referrals

Finance2/2/2026

Full Bill Text

No bill text available