Providing cost-of-living provision for certain retirees under PERS and TRS

SB 113 provides a cost-of-living adjustment for certain retired public employees and teachers in West Virginia. It applies to retirees under the Public Employees Retirement System (PERS) and Teachers Retirement System (TRS) who are at least 60 years old and have received retirement payments for five or more years. Starting July 1, 2026, these retirees will receive an additional monthly payment equal to the annual increase in the U.S. Bureau of Labor Statistics' Consumer Price Index. This adjustment is added to existing retirement benefits and is automatically calculated based on official inflation data each year.