HB4765 HFA Hornbuckle, et al 2-18 #4

      Delegates Hornbuckle, Fluharty, Hamilton, Hansen, Garcia, Lewis, Pushkin, Williams and Young move to amend HB4765 on page 1, following the enacting clause by inserting the following:

"CHAPTER 5. GENERAL POWERS AND AUTHORITY OF THE GOVERNOR, SECRETARY OF STATE AND ATTORNEY GENERAL; BOARD OF PUBLIC WORKS; MISCELLANEOUS AGENCIES, COMMISSIONS, OFFICES, PROGRAMS, ETC.

ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.

§5-10-22o. Increased compensation for state employees upon retirement.

To compensate current employees upon retirement and to assist prior employees and their beneficiaries who receive monthly retirement benefits of the system, effective September 1, 2026, and annually thereafter, monthly benefit payments of the system shall be adjusted to coincide with the amount of any increase in the consumer price index as calculated by the United States Department of Labor for the preceding year."