West Virginia HB4514 modifies the calculation of final average salary for the West Virginia Deputy Sheriff Retirement System.

West Virginia HB4514 changes the method for determining the final average salary of a member in the West Virginia Deputy Sheriff Retirement System. Under the new law, the final average salary will be based on the highest annual compensation received for covered employment by the member during any three plan years within the member’s last 10 years of service, rather than the current method which uses five consecutive years. This change aims to provide a more flexible and potentially higher calculation of final average salary, affecting retirement benefits for deputy sheriffs in the state.

West Virginia HB4514 modifies the calculation of final average salary for the West Virginia Deputy Sheriff Retirement System.

West Virginia HB4514 changes the method for determining the final average salary of a member in the West Virginia Deputy Sheriff Retirement System. Under the new law, the final average salary will be based on the highest annual compensation received for covered employment by the member during any three plan years within the member’s last 10 years of service, rather than the current method which uses five consecutive years. This change aims to provide a more flexible and potentially higher calculation of final average salary, affecting retirement benefits for deputy sheriffs in the state.