Raises cost of living threshold for supplemental pension benefits for retired municipal police officers.

This bill amends the Code of West Virginia to increase the cost-of-living threshold for supplemental pension benefits for certain municipal employees, including police officers, firefighters, and employees of waterworks systems, sewage systems, or combined waterworks/sewage systems. The allowable amount for calculating these benefits is raised from the first $15,000 to the first $30,000 of the total annual benefit paid. The supplemental benefit is subject to a four percent limitation per year and is calculated based on the increase in the consumer price index.

Raises cost of living threshold for supplemental pension benefits for retired municipal police officers.

This bill amends the Code of West Virginia to increase the cost-of-living threshold for supplemental pension benefits for certain municipal employees, including police officers, firefighters, and employees of waterworks systems, sewage systems, or combined waterworks/sewage systems. The allowable amount for calculating these benefits is raised from the first $15,000 to the first $30,000 of the total annual benefit paid. The supplemental benefit is subject to a four percent limitation per year and is calculated based on the increase in the consumer price index.