Increasing retirement benefit multiplier of Deputy Sheriff Retirement System Act

SB 190 increases the retirement benefit multiplier for deputy sheriffs in West Virginia from 2.5% to 3% of their final average salary, multiplied by their years of credited service. This change directly affects current and future members of the Deputy Sheriff Retirement System who retire on or after July 1, 2018. The bill amends the existing retirement formula to provide a higher benefit percentage without altering contribution rates or eligibility rules. This policy change results in larger monthly retirement payments for qualifying deputy sheriffs based on their salary and service length.