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WV HB5088
Bill
Status
Enrolled
3/12/2026
Primary Sponsor
John Paul Hott
Click for details
AI Summary
- Increases the retirement benefit multiplier for Natural Resource Police Officers retiring after July 1, 2026, from 2.5% to 2.75% of final average salary per year of credited service
- Requires the Division of Natural Resources to make a one-time payment of $4,250,000 to the retirement fund by July 31, 2026, to help fund the increased benefits
- Allows the Consolidated Public Retirement Board to reduce the one-time payment if a lesser amount would achieve 100% or greater funding for the plan year
- Maintains the current 9.5% member contribution rate from monthly salary, with employer contributions set annually by the board based on actuarial review
Legislative Description
Relating to Natural Resource Police Officer Retirement
Natural Resources
Last Action
House received Senate message
3/13/2026
Committee Referrals
Finance3/5/2026
Finance2/3/2026
Full Bill Text
No bill text available