This bill proposes to amend the Code of West Virginia by adding a new section, 8-22A-33b, which allows municipalities that employ police officers or firefighters currently participating in the Emergency Medical Services Retirement System to opt into the Municipal Police Officers and Firefighters Retirement System. The bill stipulates that municipalities can choose to include only those police officers or firefighters hired after July 1, 2015, while those hired before this date will remain in the Public Employees Retirement System. Municipalities must make their election by July 1, 2027, and once they do, all new hires will automatically be included in the Municipal Police Officers and Firefighters Retirement System.

Additionally, the bill outlines the process for transferring assets and service credits from the Emergency Medical Services Retirement System to the Municipal Police Officers and Firefighters Retirement System for those who choose to switch. The Consolidated Public Retirement Board is tasked with computing the necessary financial transfers and ensuring that the transferring employees' service credits are recognized. Importantly, once an employee transfers to the new system, the Emergency Medical Services Retirement System will no longer hold any liability for that employee's retirement benefits.

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