West VirginiaRetirement plan sets a later benefit formula and receives one-time funding
The law sets a benefit formula for members retiring after July 1, 2029, and required the Division to make a one-time fund payment in 2026.
What it does
Members who retire after July 1, 2029, have a benefit calculated at 2.75% of their final average salary for each year of credited service, subject to plan and federal limits.
The Division was required to make a one-time $4.25 million payment to the retirement fund for the plan year starting July 1, 2026; the board may lower it if a smaller payment will fully fund the plan.
Argument forMembers retiring after July 1, 2029, could receive larger benefits because the formula counts a higher share of their salary for each year worked.
Argument againstThe Division could have less money for other needs after paying $4.25 million into the retirement fund, unless the board lowers the payment.
More detail
The law calculates a member’s accrued benefit at 2.75% of final average salary for each year of credited service. This formula applies to plan members who retire after July 1, 2029. The benefit is subject to federal limits and other plan provisions. The formula applies to members who retire after July 1, 2029.
The law requires the Division of Natural Resources to pay $4.25 million to the retirement fund. The payment goes from the West Virginia Division of Natural Resources to the Natural Resources Police Officer Retirement Fund. The payment is in addition to the employer contribution otherwise required. The board may lower it if a smaller payment will bring the plan to at least 100% funding for that plan year. The Division was required to pay by July 31, 2026.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jun 29Chapter 247, Acts, Regular Session, 2026Latest
- Apr 1Approved by Governor Patrick Morrisey 4/1/2026Major
- Mar 25To Governor 3/25/26To Governor
- Mar 14Approved by Governor Patrick Morrisey 4/1/2026 - House JournalMajor
- Mar 14Approved by Governor Patrick Morrisey 4/1/2026 - Senate JournalBecame Law
- Mar 14To Governor 3/25/2026 - Senate JournalMinor
- Mar 13House received Senate message
- Mar 12Completed legislative action
- Vote recorded Passage. Result: pass.Upper
- Mar 12Communicated to House
- Mar 12Passed Senate (Roll No. 504)Passed Senate
- Mar 12Read 3rd timeMinor
- Mar 12On 3rd reading
- Mar 11Read 2nd timeMinor
- Mar 11On 2nd reading
- Mar 10Read 1st timeMinor
- Mar 10Immediate consideration
- Mar 10Reported do passMinor
- Mar 5To FinanceMinor
- Mar 5To FinanceMinor
- Mar 5Introduced in SenateMinor
- Mar 4Communicated to Senate
- Vote recorded PASSAGE. Result: pass.Lower
- Mar 4Passed House (Roll No. 301)Passed House
- Mar 4Read 3rd timeMinor
- Mar 4On 3rd reading, Special Calendar
- Mar 3Read 2nd timeMinor
- Mar 3On 2nd reading, Special Calendar
- Mar 2Read 1st timeMinor
- Mar 2On 1st reading, Special Calendar
- Feb 27By substitute, do pass
- Feb 3To House FinanceMinor
- Feb 3Introduced in HouseMinor
- Feb 3To FinanceMinor
- Feb 3Filed for introductionIntroduced
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