Relating to Judges' Retirement System

Summary

The Senate bill updates the Judges' Retirement System by changing contribution rates, suspending court contributions until the fund’s over‑funded ratio drops below 150%, and treating judges who retired after 2005 the same as those who retired earlier. It also adds actuarially reduced benefits in certain cases, raises surviving‑spouse payouts, and removes previous limits and distinctions in benefit calculations. The changes affect all current and future judges of West Virginia courts of record and aim to improve the system’s fiscal balance while enhancing benefits for retirees and their families.

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