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2003 SESSION
SB 905 VRS; life and accidental death and dismemberment insurance.
Introduced by: Frederick M. Quayle | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Virginia Retirement System; life and accidental death and dismemberment insurance. Provides that any employee who (i) at any time had at least 25 years of creditable service in any retirement plan administered by the Virginia Retirement System or other Virginia public plan participating in the group life program and (ii) is employed in a covered position within 24 months prior to his retirement earning an annual salary less than the annual salary earned in his immediately prior covered position, shall be eligible for an amount of group life insurance at an amount equal to twice the amount of his annual salary earned in his immediately prior covered position. The Bill also provides that for any employee who returns to covered employment after retiring with at least 25 years of creditable service in any retirement plan administered by the Virginia Retirement System or other Virginia public plan participating in the group life program, the amount of life insurance shall be the greater of the amount of insurance he would have been eligible for had he remained a retiree or twice the amount of his current annual salary. The bill provides that the face value of such life insurance shall be reduced as currently provided under law.
FULL TEXT
- 01/08/03 Senate: Presented & ordered printed, prefiled 01/07/03 039017260 pdf | impact statement
- 01/28/03 Senate: Committee substitute printed 039075520-S1 pdf | impact statement
- 02/26/03 Senate: Bill text as passed Senate and House (SB905ER) pdf | impact statement
- 03/24/03 Governor: Acts of Assembly Chapter text (CHAP0220) pdf
HISTORY
- 01/08/03 Senate: Presented & ordered printed, prefiled 01/07/03 039017260
- 01/08/03 Senate: Referred to Committee on Finance
- 01/28/03 Senate: Committee substitute printed 039075520-S1
- 01/28/03 Senate: Reported from Finance with substitute (13-Y 0-N)
- 01/29/03 Senate: Constitutional reading dispensed (40-Y 0-N)
- 01/29/03 Senate: VOTE: CONST. RDG. DISPENSED R (40-Y 0-N)
- 01/30/03 Senate: Read second time
- 01/30/03 Senate: Reading of substitute waived
- 01/30/03 Senate: Committee substitute agreed to 039075520-S1
- 01/30/03 Senate: Engrossed by Senate - committee substitute 039075520-S1
- 01/31/03 Senate: Read third time and passed Senate (40-Y 0-N)
- 01/31/03 Senate: VOTE: PASSAGE R (40-Y 0-N)
- 01/31/03 Senate: Communicated to House
- 02/04/03 House: Placed on Calendar
- 02/04/03 House: Read first time
- 02/04/03 House: Referred to Committee on Appropriations
- 02/17/03 House: Reported from Appropriations (25-Y 0-N)
- 02/18/03 House: Read second time
- 02/19/03 House: Read third time
- 02/19/03 House: Passed House BLOCK VOTE (99-Y 0-N)
- 02/19/03 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 02/26/03 Senate: Bill text as passed Senate and House (SB905ER)
- 03/05/03 Senate: Enrolled
- 03/05/03 House: Signed by Speaker
- 03/06/03 Senate: Signed by President
- 03/16/03 Governor: Approved by Governor-Chapter 220 (effective 7/1/03)
- 03/24/03 Governor: Acts of Assembly Chapter text (CHAP0220)