Increases the retirement multiplier for West Virginia deputy sheriffs from 2.75% to 3.0%.
West Virginia HB5467 amends the Deputy Sheriff Retirement System Act to increase the retirement multiplier for deputy sheriffs from 2.75% to 3.0%. This change affects the calculation of retirement benefits for deputy sheriffs, potentially increasing their retirement income. The bill specifies that the new multiplier applies to the accrued benefit, which is based on the final average salary and years of credited service. This change aims to enhance the retirement security of deputy sheriffs in West Virginia.
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