Change required service from 25 to 20 years for eligibility for minimum 1k retirement annuity

HB 4562 Text

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Introduced Version

House Bill 4562 History

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Key:
Green
= existing Code.
Red
= new code to be enacted

FISCAL NOTE

WEST VIRGINIA LEGISLATURE
2026 Regular
SESSION

FISCAL NOTE

Introduced
House Bill 4562
By Delegates Brooks, Roop, and Pritt
[Introduced January 20, 2026; referred to the Committee on Finance]
A BILL to amend and reenact §5-10-22n and §18-7A-26y of the Code of West Virginia, 1931, as amended, relating to lowering the eligibility age for certain retirement benefits under the
Public Employees Retirement System and the State Teachers Retirement System
.
Be it enacted by the Legislature of West Virginia:

CHAPTER 5. GENERAL POWERS AND AUTHORITY OF THE GOVERNOR, SECRETARY OF STATE AND ATTORNEY GENERAL; BOARD OF PUBLIC WORKS; MISCELLANEOUS AGENCIES, COMMISSIONS, OFFICES, PROGRAMS, ETC.

ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.

§5-10-22n. Minimum benefit for certain annuitants.

(a) For purposes of this section:
(1) "Elected public official" means any member of the Legislature or any member of the legislative body of any political subdivision; and
(2) "Temporary legislative employee" means any employee of the Clerk of the House of Delegates, the Clerk of the Senate, the Legislature or a committee thereof, including the Joint Committee on Government and Finance, whose employment is classified as temporary and who is employed to perform services required by the Clerk of the House of Delegates, the Clerk of the Senate, the Legislature or a committee thereof, as the case may be, for regular sessions, extraordinary sessions, and/or interim meetings of the Legislature.
(b) If the retirement annuity of a retirant (or, if applicable, his or her beneficiary) at least 70 years of age as of July 1,
2023

2026
, with at least
25

20
years of total service as of July 1,
2023

2026
, is less than $1,000 per month (including any supplemental benefits or incentives provided by this article), then the monthly retirement benefit for the retirant (or if applicable, his or her beneficiary) beginning on or before December 31,
2023

2026
, shall be increased to $1,000 per month:
Provided
, That any year of total service while an elected public official or a temporary legislative employee may not be taken into account for purposes of this section.
(c) Notwithstanding any provision of subsection (b) of this section to the contrary, if the retirement annuity of a beneficiary at least 70 years of age as of July 1,
2023

2026
, of a retirant who chose option B – 50 percent joint and survivor annuity as provided in §5-10-24 of this code and who had at least
25

20
years of total service is less than $500 per month (including any supplemental benefits or incentives provided by this article), then the monthly retirement benefit for the beneficiary shall be increased to $500 per month beginning on or before December 31,
2023

2026
:
Provided
, That any year of total service while an elected public official or a temporary legislative employee may not be taken into account for purposes of this section.
(d) The payment of any minimum benefit under this section is in lieu of, and not in addition to, the payments of any retirement benefit or supplemental benefit or incentives otherwise provided by law:
Provided
, That the minimum benefit provided in this section is subject to any limitations thereon under Section 415 of the Internal Revenue Code of 1986, as amended, and §5-10-27a of this code.
(e) Any minimum benefit conferred in this section is not retroactive to the time of retirement and applies only to members who have retired prior to the effective date of this section, or, if applicable, to beneficiaries receiving benefits under the retirement system prior to the effective date.

CHAPTER 18. EDUCATION

ARTICLE 7a. State Teachers Retirement System.

§18-7A-26y. Minimum benefit for certain retired members.

(a) If the retirement annuity of a retirant (or applicable beneficiary thereof) at least 70 years of age with at least
25

20
years of total service as of July 1,
2023

2026
, is less than $1,000 per month (including any supplemental or additional benefits provided by this article), then the monthly retirement annuity for the retirant, beginning on or before December 31,
2023

2026
, shall be increased to $1,000 per month:
Provided
, That any year of service while an employee of an institution of higher education may not be taken into account for purposes of this section if his or her salary was capped under the retirement system at $4,800 per year pursuant to §18-7A-14a of this code.
(b) Notwithstanding any provision of subsection (a) of this section to the contrary, if the retirement annuity of a beneficiary at least 70 years of age as of July 1,
2023

2026
, of a retirant who chose option B – 50 percent joint and survivor annuity under the retirement system and who had at least
25

20
years of total service is less than $500 per month (including any supplemental benefits or incentives provided by this article), then the monthly retirement benefit for the beneficiary shall be increased to $500 per month beginning on or before December 31,
2023

2026
:
Provided
, That any year of service while an employee of an institution of higher education may not be taken into account for purposes of this section if his or her salary was capped under the retirement system at $4,800 per year pursuant to §18-7A-14a of this code.
(c) The payment of any minimum benefit under this section is in lieu of, and not in addition to, the payments of any retirement annuity or supplemental or additional benefits otherwise provided by this article:
Provided,
That the minimum benefit provided in this section is subject to any limitations thereon under Section 415 of the Internal Revenue Code of 1986, as the same may be amended, and §18-7A-28a of this code.
(d) Any minimum benefit conferred in this section is not retroactive to the time of retirement and applies only to members who have retired prior to the effective date of this section, or, if applicable, to beneficiaries receiving benefits under the retirement system prior to the effective date.

NOTE: The purpose of this bill is to change the eligibility age for certain retirement benefits within the Public Employees Retirement System and the State Teachers Retirement System.
Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.

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