Allow adjustment of retirement benefit following death of beneficiary for survivor benefit

HB 3278 amends West Virginia's retirement law to ensure retired public employees who named a spouse as a beneficiary receive their full original retirement payment amount if that spouse dies before them. It directly affects current and future retirees who had elected a joint survivor benefit option. The key provision clarifies that upon the death of a spouse beneficiary, the retirant's annuity is adjusted to the same amount they would have received had they never nominated a spouse beneficiary. This change eliminates the reduced payment previously applied when a spouse beneficiary predeceases the retirant. The bill does not alter existing rules for changing beneficiaries due to divorce or remarriage.