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2001 SESSION

• | print version

SB 942 Retirement System; purchase of prior service credit.

Introduced by: Charles J. Colgan | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Retirement System; purchase of prior service credit. Creates an additional purchase of prior service option for teachers who are spouses of military persons. Teachers with at least 15 years of creditable service as a licensed teacher in the Commonwealth who are married for 20 years or more to a person on active duty military service, for 20 years or more, may purchase up to 15 years of prior service at a cost of five percent of their present annual compensation for each year to be credited or five percent of their average annual creditable compensation during their 36 highest consecutive months of creditable service, whichever is greater.

FULL TEXT

• 01/10/01  Senate: Presented & ordered printed, prefiled 01/08/01 014593412  pdf | impact statement

HISTORY

• 01/10/01  Senate: Presented & ordered printed, prefiled 01/08/01 014593412
• 01/10/01  Senate: Referred to Committee on Finance
• 02/01/01  Senate: Left in Finance