This bill amends the Code of West Virginia to enable Capitol police officers to join the West Virginia State Police Retirement System. It introduces definitions for "Capitol police officer" and "credited service," and clarifies the conditions under which retirants can return to work as Capitol police or State police officers. The legislation provides a mechanism for Capitol police officers currently enrolled in the Public Employees Retirement System to opt for a transfer to the State Police Retirement System, detailing the election process, timing, and transfer of qualified service years. It also emphasizes the necessity of a bona fide separation from service for retirants to maintain their annuity eligibility and outlines the notification requirements for agencies regarding potential employment that may impact retirants' benefits.

Additionally, the bill establishes that Capitol police officers can transfer their retirement assets from the Public Employees Retirement System to the State Police Retirement System, with a deadline for this election set for August 31, 2026. Officers will receive credited service for their time in the Public Employees Retirement System but must pay the difference in contributions between the two systems for the transferred years. The transfer is irrevocable, and conditions for new hires and those rehired after July 1, 2026, regarding retirement system membership are specified. The bill mandates the transfer of assets by April 30, 2027, and includes provisions for calculating the transfer amount, indemnification from further liability to the Public Employees Retirement System, and eligibility for a three percent multiplier for retirement benefits, which can commence on or after May 1, 2027.

Statutes affected:
Introduced Version: 15-2A-2
Committee Substitute: 15-2A-2, 15-2A-24
Committee Substitute for the Committee Substitute: 15-2A-2, 15-2A-3, 15-2A-6e, 15-2A-24