This bill aims to amend the West Virginia Public Employees Retirement Act by restoring the "special rule of 80," which allows active, contributing members of the retirement system to retire with full pension rights without a reduction in benefits if their age plus years of contributing service equals or exceeds 80, provided they have at least 20 years of contributing service. The bill also clarifies that up to two years of military or prior service can count towards this requirement.

Additionally, the bill includes several modifications to existing language, such as changing the wording regarding the eligibility for contract work after retirement and the conditions under which members can serve in elective or appointive offices without losing their retirement benefits. It specifies that the right to elect any of the options or benefits outlined in this section will terminate on June 30, 1989. Overall, the bill seeks to enhance retirement options for public employees while ensuring the fiscal integrity of the retirement fund.

Statutes affected:
Introduced Version: 5-10-22c