West Virginia SB127 provides a $1,000 cost-of-living adjustment for certain retirees of the Public Employees Retirement System and the State Teachers.

West Virginia SB127 aims to provide a $1,000 cost-of-living adjustment to certain retirees of the Public Employees Retirement System and the State Teachers Retirement System. This adjustment is payable in full by June 30, 2026, for retirees who currently receive an annual retirement annuity. The adjustment is subject to limitations under section 415 of the Internal Revenue Code of 1986, as amended. Additionally, the adjustment is payable pro rata to any beneficiary of a qualifying retiree who currently receives an annuity or other benefit from the retirement system.

West Virginia SB127 provides a $1,000 cost-of-living adjustment for certain retirees of the Public Employees Retirement System and the State Teachers.

West Virginia SB127 aims to provide a $1,000 cost-of-living adjustment to certain retirees of the Public Employees Retirement System and the State Teachers Retirement System. This adjustment is payable in full by June 30, 2026, for retirees who currently receive an annual retirement annuity. The adjustment is subject to limitations under section 415 of the Internal Revenue Code of 1986, as amended. Additionally, the adjustment is payable pro rata to any beneficiary of a qualifying retiree who currently receives an annuity or other benefit from the retirement system.