The bill seeks to amend and update various sections of the Code of West Virginia concerning retirement provisions for public employee retirement systems, including the Public Employees Retirement System, the Deputy Sheriffs Retirement System, and the Teachers Retirement System. Key amendments include the introduction of a definition for "bona fide separation from service upon retirement," which requires retirants to 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, adds the Emergency Medical Service Retirement System to member contribution provisions, and allows retired public safety officers to use retirement benefits for qualified health insurance premiums.

Additionally, the bill updates definitions to align with federal law, modifies provisions regarding the reemployment of retirants, and introduces new definitions such as "participating public employer" and "employer error." It emphasizes the necessity of a bona fide separation from service for retirants who wish to maintain their annuity eligibility upon reemployment, detailing the consequences of failing to meet this requirement. The bill also includes provisions for compliance with federal regulations regarding benefit distributions and establishes stricter requirements for retired members returning to employment, ensuring clarity and functionality within the retirement systems for public employees 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