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2007 SESSION

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078406512
HOUSE BILL NO. 2904 Offered January 10, 2007 Prefiled January 10, 2007 A BILL to direct the Virginia Retirement System to provide additional information to localities. ----------
Patrons-- Spruill, Armstrong, BaCote, Bulova, Caputo, Dance, Jones, D.C., Melvin and Ward
---------- Referred to Committee on Appropriations ----------

Be it enacted by the General Assembly of Virginia:

1. § 1. In addition to the annual actuarial evaluation currently provided to participating localities by the Virginia Retirement System, VRS annually shall provide each participating locality the locality-specific data on which the annual actuarial evaluation is based, and such other information as may be necessary for each locality to determine the specific assumptions that are driving its VRS-related costs, and to understand the retirement costs of different classes of covered employees.