This bill proposes an amendment to the West Virginia Deputy Sheriff Retirement Fund, specifically altering the computation of a member's final average salary. The new provision stipulates that the final average salary will be calculated based on the average of the highest annual compensation received for covered employment by the member during any three plan years within the member's last ten years of service. This replaces the existing requirement, which is based on the average of the highest annual compensation over five consecutive years.

The bill aims to provide a more favorable calculation method for deputy sheriffs nearing retirement, potentially increasing their retirement benefits. The change is intended to better reflect the earnings of members in their final years of service, thereby enhancing their financial security upon retirement. The proposed legal language includes the insertion of "three" in the definition of "final average salary," while the previous reference to "five" will be deleted.

Statutes affected:
Introduced Version: 7-14D-2