The bill proposes significant amendments to the Code of West Virginia, primarily aimed at increasing the annual salaries of various judges, including magistrates, justices of the Supreme Court of Appeals, circuit court judges, and family court judges, with these increases set to take effect on July 1, 2025. For example, magistrates' salaries will rise to $75,840, while justices of the Supreme Court of Appeals will earn $157,600. The legislation also introduces an actuarially reduced pension benefit for judges under specific conditions, enhances the surviving spouse plan benefit, and removes distinctions in benefit calculations among different judges.

Additionally, the bill suspends court contributions to the judicial retirement system until the pension fund's overfunded status drops below 150 percent or until July 1, 2029, whichever comes first. It establishes retirement eligibility criteria for judges over 65 who have served at least eight years, allowing them to receive benefits based on their highest annual salary. The bill also increases the annuity for judges and their beneficiaries from forty percent to fifty percent of the judge's salary at the time of death or retirement, and it provides for dependent children to receive a capped annuity if a judge dies without a surviving spouse. Furthermore, the bill extends the termination date for limitations on benefit increases to July 1, 2029, and specifies a salary increase for judges of the Intermediate Court of Appeals from $142,500 to $150,500 starting July 1, 2025.

Statutes affected:
Introduced Version: 50-1-3, 51-1-10a, 51-2-13, 51-2A-6, 51-11-11
Committee Substitute: 50-1-3, 51-1-10a, 51-2-13, 51-2A-6, 51-9-4, 51-9-6a, 51-9-6b, 51-9-6c, 51-11-11, 51-9-6d
Committee Substitute for the Committee Substitute: 50-1-3, 51-1-10a, 51-2-13, 51-2A-6, 51-9-4, 51-9-6a, 51-9-6b, 51-9-6c, 51-11-11, 51-9-6d