Relating to the Deputy Sheriff Retirement System Act

HB 4803 amends West Virginia's Deputy Sheriff Retirement System to allow the Consolidated Public Retirement Board to set county commission contribution rates (capped at 13% of payroll) based on actuarial calculations. It adds a new provision for an annual 1% cost-of-living adjustment to retirement benefits for eligible deputy sheriff retirees aged 60+ and surviving spouses. The bill modifies contribution rules, requiring counties to pay rates determined by the board rather than fixed percentages. This directly affects current and future deputy sheriff retirees, their families, and county governments funding the retirement system.