The bill introduced on January 14, 2026, aims to amend the Code of West Virginia by adding a new section, 5-10-22o, which provides an enhanced retirement benefit for specific retirees under the West Virginia Public Employees Retirement Act. This new provision is designed to offer an additional supplement to existing retirement allowances for retirees who meet certain criteria.

Specifically, the enhanced retirement annuity will be available to retirees who are over the age of 77, retired before June 30, 2020, and have been receiving defined retirement benefits for at least 12 years. The increased benefit will be calculated as a compounded 103 percent of the retiree's annual retirement payment at the age of 65, payable monthly. This bill seeks to ensure that eligible retirees receive a more substantial financial benefit in their later years.

Statutes affected:
Introduced Version: 5-10-22o