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2001 SESSION

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HB 1644 Retirement System; purchase of prior military service credit.

Introduced by: Thomas M. Jackson, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Retirement System; purchase of prior military service credit. Permits certain employees to purchase all periods of prior active military service at the rate of five percent for each year to be credited for retirement purposes, provided that any portion of a period of prior service lasted at least 180 consecutive days. Under current law, only those periods of prior military service lasting at least 180 consecutive days may be purchased at that rate.


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