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2003 SESSION
HB 1717 Virginia Retirement System; credit for service in armed forces.
Introduced by: M. Kirkland Cox | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Virginia Retirement System; credit for service in the armed forces. Changes the requirements under which a member may receive retirement credit for service in the armed forces to conform to requirements under federal law. Under Virginia law, a member may receive retirement credit at no cost for service in the armed forces if the member (i) was on leave of absence from a covered position, (ii) was not dishonorably discharged, (iii) has not withdrawn his accumulated contributions, and (iv) has reentered service in a covered position within one year of discharge from the armed forces. However, under Virginia law, retirement credit is not granted for service in the armed forces for reenlistments that follow the cessation of hostilities. Federal law, however, provides that any service in the armed forces, when performed on a leave of absence, is eligible for retirement credit upon a person's reemployment with his employer, regardless of whether the service is in wartime.
SUMMARY AS INTRODUCED:
Virginia Retirement System; credit for service in the armed forces. Changes the requirements under which a member may receive retirement credit for service in the armed forces to conform to requirements under federal law. Under Virginia law, a member may receive retirement credit at no cost for service in the armed forces if the member (i) was on leave of absence from a covered position, (ii) was not dishonorably discharged, (iii) has not withdrawn his accumulated contributions, and (iv) has reentered service in a covered position within 1 year of discharge from the armed forces. However, under Virginia law, retirement credit is not granted for service in the armed forces for reenlistments that follow the cessation of hostilities. Federal law, however, provides that any service in the armed forces, when performed on a leave of absence, is eligible for retirement credit upon a person's reemployment with his employer, regardless of whether the service is in wartime.