This bill proposes comprehensive amendments to the West Virginia Code concerning retirement provisions for public employees, including those in various retirement systems such as the Public Employees Retirement System and the Deputy Sheriffs Retirement System. A significant change is the introduction of the definition of "bona fide separation from service upon retirement," which mandates that a retirant must completely terminate their employment with a participating employer for at least 60 consecutive days without a prearranged agreement to return. The bill also clarifies the notification process for employers regarding retirants who return to work and includes the Emergency Medical Service Retirement System in provisions that allow public employers to pick up members' contributions. Additionally, the definition of "required beginning date" is amended to align with federal law, ensuring that retirement benefits commence based on the member's age and retirement status.

Moreover, the bill addresses the reemployment of retirants, stipulating that if they do not meet the bona fide separation requirement, their retirement may be voided, and they must repay any annuity payments received. It allows certain types of employment, such as temporary positions, without suspending annuities, provided annual compensation does not exceed $25,000. The bill also emphasizes the need for compliance with federal regulations regarding minimum distributions and updates various definitions to enhance clarity and functionality within the retirement systems. Overall, these amendments aim to streamline retirement processes, ensure consistency with federal guidelines, and provide necessary updates to the definitions and provisions governing public employee retirement systems in West Virginia.

Statutes affected:
Introduced Version: 5-10-2, 5-10-19, 5-10-27b, 5-10-48, 5-10C-4, 5-10D-6a, 7-14D-2, 7-14D-9b, 7-14D-24a, 8-22A-2, 8-22A-11, 8-22A-34, 15-2-45, 15-2A-2, 15-2A-6b, 15-2A-6e, 16-5V-2, 16-5V-13, 16-5V-35, 18-7A-3, 18-7A-13a, 18-7A-28b, 18-7B-2, 18-7B-12a, 20-18-2, 20-18-14, 20-18-30, 51-9-1a, 51-9-10, 51-9-12b