Increasing retirement benefit multiplier of Deputy Sheriff Retirement System Act

This bill increases the retirement benefit multiplier for West Virginia deputy sheriffs from 2.5% to 3% of their final average salary multiplied by years of credited service. It directly affects deputy sheriffs who retire on or after July 1, 2018, by raising their monthly pension amount under the Deputy Sheriff Retirement System. The change modifies the calculation method in the existing retirement law without altering contribution rates or eligibility rules. This adjustment results in higher retirement benefits for qualifying members based on their salary and service history. The policy change applies specifically to the state's deputy sheriff retirement system, not other public retirement plans.