CERTIFICATIONWEST OFVIRGINIA ENROLLMENTLEGISLATURE SUBSTITUTEREGULAR SENATESESSION BILLIntroduced 5862 69th Legislature Regular Session Passed by the Senate FebruaryBill 13,579 CERTIFICATEBy YeasSenators 48Woelfel Nays 0 I, Sarah Bannister, Secretary of the Senate of the State of Washington, do hereby certify that the attached is SUBSTITUTE SENATE BILL 5862 as passed by the Senate President of the Senate and theCaputo House[Introduced ofJanuary Representatives26, on2024; the dates hereon set forth.

Passedreferred byto the HouseCommittee Marchon 6,Finance] 2026Intr YeasSB 962024R3402 NaysA 0BILL Secretaryto Speakeramend of the HouseCode of RepresentativesWest ApprovedVirginia, FILED1931, Secretaryas ofamended, State State of Washington Governor of the State of Washington SUBSTITUTE SENATE BILL 5862 Passed Legislature - 2026 Regular Session State of Washington 69th Legislature 2026 Regular Session By Senate Ways & Means (originally sponsored by Senatorsadding Dozier,thereto Bateman,a Christian,new Goehner,section, Hasegawa,designated Holy,§5-10-22o; Lovelett, Wagoner, and J.

Wilson)and READto FIRSTamend TIMEsaid 02/09/26.code by adding thereto a new section, designated §18-7A-26z, all relating to providing a $1,000 cost-of-living adjustment to certain retirees of the Public Employees Retirement System and the State Teachers Retirement System;

ANand ACT Relating to providing a cost-of-living adjustment for planthe 1pro retireesrata distribution of the teachers'cost-of-living retirementadjustment systemto andcertain publicbeneficiaries. employees' retirement system;

amendingBe RCWit 41.32.4992enacted andby 41.40.1987;the Legislature of West Virginia:

andCHAPTER providing5. an effective date.

BEGENERAL ITPOWERS ENACTEDAND BYAUTHORITY OF THE LEGISLATUREGOVERNOR, SECRETARY OF THE STATE OFAND WASHINGTON:ATTORNEY GENERAL;

Sec.BOARD OF PUBLIC WORKS;

1.MISCELLANEOUS AGENCIES, COMMISSIONS, OFFICES, PROGRAMS, ETC.

RCWARTICLE 41.32.499210. and 2024 c 255 s 1 are each amended to read as follows:

(1)WEST BeneficiariesVIRGINIA whoPUBLIC areEMPLOYEES receivingRETIREMENT aACT. monthly benefit from the teachers' retirement system plan 1 on July 1, 2017, shall receive, effective July 1, 2018, an increase to their monthly benefit of one and one-half percent multiplied by the beneficiaries' monthly benefit, not to exceed $62.50.

(2)§5-10-22o. Beneficiaries who are receiving a monthly benefit from the teachers' retirement system plan 1 on July 1, 2019, shall receive, effective July 1, 2020, an increase to their monthly benefit of three percent multiplied by the beneficiaries' monthly benefit, not to exceed $62.50.

(3)Cost-of-living Beneficiariesadjustments whofor arecertain receivingannuitants aeffective monthly benefit from the teachers' retirement system plan 1 on Julyor 1,before 2021,June shall30, receive,2024. effective July 1, 2022, an increase to their monthly benefit of three p.

1(a) SSBAs 5862.PLan percentadditional multipliedcost-of-living byadjustment theto beneficiaries'other monthlyretirement benefit,allowances notprovided, a cost-of-living adjustment to exceedretirement $110.00.benefits shall be paid to retirees of the system as provided in subsection (b) of this section.

(4)The Beneficiariescost-of-living whoadjustment areshall receivingequal a$1,000 monthlyand benefit from the teachers'first retirementpayment system plan 1 on July 1, 2022, shall receive,be effectivepaid Julyin 1,full 2023, an increase to their monthly benefit of three percent multiplied by theJune beneficiaries'30, monthly2024. benefit, not to exceed $110.00.

(5)(b) BeneficiariesThe whocost-of-living areadjustment receivingprovided aby monthlythis benefitsection fromapplies theto teachers'any retirementretiree systemwho plancurrently 1receives on July 1, 2023, shall receive, effective July 1, 2024, an increaseannual toretirement theirannuity. monthly benefit of three percent multiplied by the beneficiaries' monthly benefit, not to exceed $110.00.

(6)This Beneficiariescost-of-living whoadjustment areis receivingsubject ato monthlyany benefitapplicable fromlimitations theunder teachers'section retirement415 system plan 1 on July 1, 2025, shall receive, effective July 1, 2026, an increase to their monthly benefit of three percent multiplied by the beneficiaries'Internal monthlyRevenue benefit,Code notof to1986, exceedas $110.00.amended.

(7)(c) ThisThe cost-of-living adjustment provided by this section doesis notpayable applypro rata to thoseany receivingbeneficiary benefitsof pursuanta toqualifying RCWretiree 41.32.489who currently receives an annuity or 41.32.540.other benefit payable by the system.

Sec.Intr SB 2024R3402 CHAPTER 18.

2.EDUCATION.

RCWARTICLE 41.40.19877A. and 2024 c 255 s 2 are each amended to read as follows:

(1)STATE BeneficiariesTEACHERS whoRETIREMENT areSYSTEM. receiving a monthly benefit from the public employees' retirement system plan 1 on July 1, 2017, shall receive, effective July 1, 2018, an increase to their monthly benefit of one and one-half percent multiplied by the beneficiaries' monthly benefit, not to exceed $62.50.

(2)§18-7A-26z. Beneficiaries who are receiving a monthly benefit from the public employees' retirement system plan 1 on July 1, 2019, shall receive, effective July 1, 2020, an increase to their monthly benefit of three percent multiplied by the beneficiaries' monthly benefit, not to exceed $62.50.

(3)Cost-of-living Beneficiariesadjustments whofor arecertain receivingannuitants aeffective monthly benefit from the public employees' retirement system plan 1 on Julyor 1,before 2021,June shall30, receive,2024. effective July 1, 2022, an increase to their monthly benefit of three percent multiplied by the beneficiaries' monthly benefit, not to exceed $110.00.

(4)(a) BeneficiariesAs whoan areadditional receivingcost-of-living aadjustment monthlyto benefitother fromretirement theallowances publicprovided, employees'a retirementcost-of-living systemadjustment planto 1retirement onbenefits Julyshall 1,be 2022,paid shallto receive,certain effectiveretirees Julyof 1,the 2023,retirement ansystem increaseas toprovided theirin monthlysubsection benefit(b) p.of this section.

2The SSBcost-of-living 5862.PLadjustment ofshall threeequal percent$1,000 multipliedand byshall thebe beneficiaries'paid monthlyin benefit,full notby toJune exceed30, $110.00.2024.

(5)(b) BeneficiariesThe whocost-of-living areadjustment receivingprovided ain monthlythis benefitsection fromapplies theto publicany employees'retiree retirementwho systemcurrently planreceives 1 on July 1, 2023, shall receive, effective July 1, 2024, an increaseannual toretirement theirannuity. monthly benefit of three percent multiplied by the beneficiaries' monthly benefit, not to exceed $110.00.

(6)This Beneficiariescost-of-living whoadjustment areis receivingsubject ato monthlyany benefitapplicable fromlimitations theunder publicSection employees'415 retirement system plan 1 on July 1, 2025, shall receive, effective July 1, 2026, an increase to their monthly benefit of three percent multiplied by the beneficiaries'Internal monthlyRevenue benefit,Code notof to1986, exceedas $110.00.amended.

(7)(c) ThisThe cost-of-living adjustment provided by this section doesis notpayable applypro rata to thoseany receivingbeneficiary benefitsof pursuanta toqualifying RCWretiree 41.40.1984.who currently receives an annuity or other benefit payable by the retirement system.

NEWNOTE: SECTION.

Sec.The purpose of this bill is to provide a $1,000 cost-of-living adjustment to certain retirees of the Public Employees Retirement System and the State Teachers Retirement System.

3.Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.

This act takes effect July 1, 2026.

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3 SSB 5862.PL