West Virginia HB4889 proposes a 10% increase in retirement annuities for state retirees, phased in over three years.

West Virginia HB4889 aims to enhance retirement benefits for state retirees. It introduces a 10% increase in retirement annuities, phased in over three years starting July 1, 2026. The bill also sets a minimum monthly retirement benefit of $500 for beneficiaries and $1,000 for retirees aged 70 or older with at least 25 years of service, effective by December 31, 2023. These benefits are not retroactive and apply only to those who retired before the bill's effective date.

West Virginia HB4889 proposes a 10% increase in retirement annuities for state retirees, phased in over three years.

West Virginia HB4889 aims to enhance retirement benefits for state retirees. It introduces a 10% increase in retirement annuities, phased in over three years starting July 1, 2026. The bill also sets a minimum monthly retirement benefit of $500 for beneficiaries and $1,000 for retirees aged 70 or older with at least 25 years of service, effective by December 31, 2023. These benefits are not retroactive and apply only to those who retired before the bill's effective date.