Modifying the West Virginia State Police Retirement System

HB 2522 lowers the eligibility age for annual retirement annuity adjustments under the West Virginia State Police Retirement System from 63 to 60 years. It directly affects current and future retirees who are 60 or older (previously only 63+), as well as surviving spouses receiving benefits under specified sections. The bill modifies Section 15-2A-7 to allow these individuals to receive an annual 1% adjustment to their retirement award, paid in equal monthly installments starting July 1 each year. The adjustment is not retroactive and supplements existing retirement benefits without changing the benefit amount itself. This change applies to retirees under Section 15-2A-6 and surviving spouses under Sections 15-2A-12 through 15-2A-14.