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West VirginiaSB 7162025 Regular SessionSenateWALLET

Relating to failure to pay required contributions and interest payments for certain retirees who transfer between retirement systems

Sponsored By: Mike Oliverio (Republican)

Signed by Governor

§8-22A-33A

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

New Pension Choice for Police and Firefighters

Eligible West Virginia municipalities had until July 1, 2025, to choose the municipal police and firefighter retirement plan. They could limit participation to workers hired on or after July 1, 2015. Eligible existing state-plan members can choose to transfer; workers hired after the municipality's election must join the municipal plan. Municipalities must notify eligible workers within 30 days, and workers have 90 days from the municipality's election to choose. The law also sets July 1, 2025, as the election deadline for eligible post-2015 hires. Membership starts when the state retirement board accepts the election, and municipalities must report employee elections using board forms. The board must transfer qualifying assets and service credit within 60 days after notice; only service from July 1, 2015, onward transfers. The asset calculation uses the prior actuarial valuation and the funded share of active members' pension obligations, with 7.5% annual interest through transfer. The law also specifies asset market value at the end of the month before transfer.

Police and Firefighters Face Pension Transfer Costs

Transferring officers and firefighters must pay 4% of earnings tied to transferred assets by June 30, 2027. They also owe 7.5% annual interest from initial state-plan participation through the calculation date. Payments can span up to 24 months, with 7.5% annual interest on unpaid balances from the calculation date until paid. Missing the payment deadline forces all transferred service back to the state plan by December 31, 2027. Returned assets must include contributions employees and employers would have paid without the transfer, plus 7.5% annual interest. Excess employee contributions stay in the municipal plan until employment ends. Transferring workers also agree to protect the state plan from claims for benefits based on transferred service and assets. They can rejoin the state plan through other eligible employment, but receive no credit there for amounts transferred.

Sponsors & Cosponsors

Sponsor

  • Mike Oliverio

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 260 • No: 0

Senate vote • 4/8/2025

Effective from passage (Roll No. 350)

Yes: 33 • No: 0 • Other: 1

House vote • 4/7/2025

Effective from passage (Roll No. 408)

Yes: 98 • No: 0

House vote • 4/7/2025

Passed House (Roll No. 407)

Yes: 98 • No: 0

Senate vote • 3/14/2025

Passed Senate (Roll No. 116)

Yes: 31 • No: 0 • Other: 1

Actions Timeline

  1. Chapter 201, Acts, Regular Session, 2025

    8/8/2025Senate

  2. Approved by Governor 4/24/2025

    4/24/2025Senate

  3. Approved by Governor 4/24/2025 - Senate Journal

    4/12/2025Senate

  4. Approved by Governor 4/24/2025 - House Journal

    4/12/2025House

  5. To Governor 4/10/2025

    4/10/2025Senate

  6. House received Senate message

    4/9/2025House

  7. House Message received

    4/8/2025Senate

  8. Senate concurred in House changed effective date

    4/8/2025Senate

  9. Effective from passage (Roll No. 350)

    4/8/2025Senate

  10. Communicated to House

    4/8/2025Senate

  11. On 3rd reading, Special Calendar

    4/7/2025House

  12. Read 3rd time

    4/7/2025House

  13. Passed House (Roll No. 407)

    4/7/2025House

  14. Effective from passage (Roll No. 408)

    4/7/2025House

  15. Communicated to Senate

    4/7/2025House

  16. Completed legislative action

    4/7/2025Senate

  17. On 2nd reading, Special Calendar

    4/4/2025House

  18. Read 2nd time

    4/4/2025House

  19. On 1st reading, Special Calendar

    4/3/2025House

  20. On 1st reading, Special Calendar

    4/3/2025House

  21. Read 1st time

    4/3/2025House

  22. Do pass

    4/2/2025House

  23. Do pass

    4/2/2025House

  24. House received Senate message

    3/17/2025House

  25. Introduced in House

    3/17/2025House

Bill Text

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