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2003 SESSION

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HB 1568 Virginia Retirement System.

Introduced by: Phillip A. Hamilton | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Retirement System. Increases the retirement allowance for all state and local members of the Virginia Retirement System by gradually increasing, over a 6-year period, the percentage of average final compensation that is multiplied by the amount of creditable service (i) from 2 percent to 2.3 percent for certain members of the Virginia Law Officers' Retirement System who are not eligible for the supplemental allowance and (ii) from 1.7 percent to 2 percent for all others. The bill also gradually increases, over a 6-year period, the monthly retirement allowance paid to members of the Virginia Retirement System who retired prior to July 1, 2003, by 3 percent.

FULL TEXT

• 01/08/03  House: Presented & ordered printed, prefiled 12/20/02 034124760  pdf | impact statement

HISTORY

• 01/08/03  House: Presented & ordered printed, prefiled 12/20/02 034124760
• 01/08/03  House: Referred to Committee on Appropriations
• 01/27/03  House: Tabled in Appropriations (22-Y 2-N)