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- Subject Index: Since 1995
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Developed and maintained by the Division of Legislative Automated Systems.
2005 SESSION
HB 1920 Retirement System; purchase of prior service for retirement.
Introduced by: M. Kirkland Cox | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Purchase of prior service for retirement. Provides that in a case where an employee is purchasing prior service credit at a cost of 5 percent of current compensation or average final compensation, whichever is greater, if the employee uses pre-tax or post-tax deductions to purchase the service, then the cost of the service shall be 5 percent of current compensation even if this is less than 5 percent of average final compensation.
The bill provides that certain creditable service for which employee and employer contributions have not been made to the Virginia Retirement System because of payroll error shall be purchased by the employer at an actuarial equivalent cost.
The bill clarifies that active duty military service that can be purchased for retirement credit is full-time service of at least 180 consecutive days.
FULL TEXT
- 01/10/05 House: Prefiled & ordered printed; offered 01/12/05 052885164 pdf | impact statement
- 03/01/05 House: Bill text as passed House and Senate (HB1920ER) pdf | impact statement
- 03/28/05 Governor: Acts of Assembly Chapter text (CHAP0292) pdf
AMENDMENTS
HISTORY
- 01/10/05 House: Prefiled & ordered printed; offered 01/12/05 052885164
- 01/10/05 House: Referred to Committee on Appropriations
- 01/12/05 House: Assigned to App. sub-committee: Compensation & General ...
- 01/31/05 House: Reported from Appropriations (24-Y 0-N)
- 02/02/05 House: Read first time
- 02/03/05 House: Read second time and engrossed
- 02/04/05 House: Read third time and passed House BLOCK VOTE (95-Y 0-N)
- 02/04/05 House: VOTE: BLOCK VOTE PASSAGE (95-Y 0-N)
- 02/04/05 House: Reconsideration of passage agreed to by House
- 02/04/05 House: Passed House BLOCK VOTE (96-Y 0-N)
- 02/04/05 House: VOTE: BLOCK VOTE PASSAGE (96-Y 0-N)
- 02/04/05 House: Communicated to Senate
- 02/07/05 Senate: Constitutional reading dispensed
- 02/07/05 Senate: Referred to Committee on Finance
- 02/09/05 Senate: Reported from Finance (14-Y 0-N)
- 02/10/05 Senate: Constitutional reading dispensed (38-Y 0-N)
- 02/10/05 Senate: VOTE: CONST. RDG. DISPENSED R (38-Y 0-N)
- 02/11/05 Senate: Read third time
- 02/11/05 Senate: Reading of amendment waived
- 02/11/05 Senate: Passed by temporarily
- 02/11/05 Senate: Amendment by Sen. Chichester agreed to
- 02/11/05 Senate: Engrossed by Senate as amended
- 02/11/05 Senate: Passed Senate with amendment (38-Y 0-N 1-A)
- 02/11/05 Senate: VOTE: PASSAGE (38-Y 0-N 1-A)
- 02/14/05 House: Placed on Calendar
- 02/15/05 House: Senate amendment agreed to by House (96-Y 0-N)
- 02/15/05 House: VOTE: ADOPTION (96-Y 0-N)
- 03/01/05 House: Bill text as passed House and Senate (HB1920ER)
- 03/01/05 House: Enrolled
- 03/03/05 House: Signed by Speaker
- 03/04/05 Senate: Signed by President
- 03/20/05 Governor: Approved by Governor-Chapter 292 (effective 7/1/05)
- 03/28/05 Governor: Acts of Assembly Chapter text (CHAP0292)