Enhanced retirement benefit for certain West Virginia Public Employees Retirement Act retirees.
West Virginia SB31 amends the West Virginia Public Employees Retirement Act to provide an enhanced retirement benefit for certain retirees. This enhanced benefit applies to those who are over the age of 77, retired before June 30, 2020, and have been receiving defined retirement benefits for at least 12 years. The enhanced retirement annuity is set at 103 percent of the retirant's annual payment at age 65, payable monthly.
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