This bill seeks to amend the Emergency Medical Services Retirement System in West Virginia by introducing new definitions and provisions that enhance retirement benefits for Emergency Medical Services (EMS) personnel. Key changes include the establishment of specific terms such as "accrued benefit," which details how benefits will be calculated based on years of service and contributions, and "normal retirement age," which outlines eligibility criteria for retirement. The bill also expands the definition of "participating public employer" to include EMS personnel and clarifies the roles of public employers in administering the retirement plan, ensuring compliance with federal laws.

Additionally, the bill outlines a structured process for EMS personnel to voluntarily transfer from the Public Employees Retirement System to the new Emergency Medical Services Retirement System, contingent upon a majority vote from eligible members. It mandates that educational materials regarding the transfer be provided to employees and sets a deadline for asset transfers related to this transition. The bill emphasizes that the election to transfer is irrevocable and specifies the financial responsibilities of both members and employers, aiming to improve the retirement benefits available to EMS personnel while adhering to federal regulations.

Statutes affected:
Introduced Version: 16-5V-2, 16-5V-5, 16-5V-6, 16-5V-8, 16-5V-14a, 16-5V-6e, 16-5V-6g