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2003 SESSION

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HB 1507 Virginia Retirement System.

Introduced by: Vincent F. Callahan, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Retirement System. Increases the retirement allowance for state and local members of the Virginia Retirement System who retire on or after July 1, 2003, by increasing the percentage of average final compensation that is multiplied by the amount of creditable service (i) from 2 percent to 2.75 percent for certain members of the Virginia Law Officers' Retirement System who retire with 25 or more years of creditable service and who are not eligible for the supplemental allowance; (ii) from 2 percent to 2.5 percent for members of the Virginia Law Officers' Retirement System who retire with 25 or more years of creditable service and who are eligible for the supplemental allowance; and (iii) from 1.7 percent to 2 percent for all others who retire with 25 or more years of creditable service.

FULL TEXT

• 01/08/03  House: Presented & ordered printed, prefiled 12/16/02 031962660  pdf | impact statement

HISTORY

• 01/08/03  House: Presented & ordered printed, prefiled 12/16/02 031962660
• 01/08/03  House: Referred to Committee on Appropriations
• 01/27/03  House: Tabled in Appropriations (23-Y 1-N)