This bill amends the Code of West Virginia to address the transfer of police officers and firefighters from the Public Employees Retirement System (PERS) to the Municipal Police Officers and Firefighters Retirement System (MPFRS). It allows municipalities to elect to include police officers and firefighters hired after July 1, 2015, in the MPFRS, while those hired before that date will remain in PERS. The municipalities must make their election by July 1, 2025, and must notify affected employees of their decision. The bill outlines the process for transferring assets and service credits from PERS to MPFRS for those who choose to make the switch.

A significant addition in the bill specifies that any police officer or firefighter who elects to join the MPFRS but fails to pay the required four percent contribution and interest by the deadline will be transferred back to PERS. This transfer will occur no later than December 31, 2027, and will include the return of previously transferred assets along with any contributions that would have been made had the member not transferred, plus interest. The bill also establishes that once an employee transfers to the MPFRS, they will not be eligible for retirement benefits from PERS until they obtain new employment that allows reentry into the system.

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