This bill amends the Code of West Virginia to address the process for police officers and firefighters who transfer from the Public Employees Retirement System (PERS) to the Municipal Police Officers and Firefighters Retirement System (MPFRS). It allows municipalities to elect to include only those police officers or firefighters hired after July 1, 2015, in the MPFRS, while those hired before that date will remain in PERS. The bill establishes a deadline of July 1, 2025, for municipalities to make this election and outlines the notification process for affected employees.

A significant addition to the law is the stipulation that any police officer or firefighter who elects to join the MPFRS but fails to pay the required four percent contribution and interest by June 30, 2027, will have their service years transferred back to PERS by December 31, 2027. The assets previously transferred to the MPFRS will be returned to PERS, along with any contributions that would have been made had the member not transferred, plus interest. This provision aims to ensure compliance with contribution requirements and clarify the consequences of non-payment for transferring employees.

Statutes affected:
Introduced Version: 8-22A-33a