This bill amends the Code of West Virginia concerning the Judges Retirement System, focusing on contributions, eligibility, and benefits for judges. It introduces a provision that suspends court contributions to the judicial retirement system until the pension fund's overfunded status falls below 150 percent. Additionally, it allows judges who retired under the post-2005 retirement system to be treated similarly to those under the pre-2005 system and establishes an actuarially reduced pension benefit for judges retiring before age 65. The bill also increases the surviving spouse plan benefit from 40% to 50% of the judge's annual salary at the time of death and removes previous limitations on retirement benefit increases and distinctions between judges for calculating benefits.

Moreover, the bill modifies eligibility criteria for retirement benefits, requiring judges to have served a minimum of 16 years and reached age 65, or served 24 years regardless of age. Judges appointed or elected after July 1, 2005, must serve a minimum of 14 years to qualify for benefits. The bill also maintains a 40% cap on total annuities for surviving dependent children while ensuring each child receives 20% of the judge's salary until they reach certain age thresholds. Overall, the bill aims to enhance retirement benefits for judges and their families while streamlining the existing framework.

Statutes affected:
Introduced Version: 51-9-4, 51-9-6, 51-9-6a, 51-9-6b, 51-9-6c, 51-9-6d