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2008 SESSION

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HB 1154 Sick leave; retirement credit for unused balances of state & local employees.

Introduced by: Clarence E. Phillips | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Retirement credit for unused sick leave.  Provides that the unused sick leave balances of state and local employees who are not covered by the Virginia Sickness and Disability Program or an employer-sponsored short- or long-term disability sickness plan would be converted into additional retirement credit upon the effective date of retirement. Unused sick leave would be converted into retirement credit at the rate of one month of service for each 173 hours of unused sick leave.

The actuarial cost for the conversion of sick leave balances to additional service credit would be incorporated into the applicable employer’s annual contribution for retirement.

FULL TEXT

• 01/09/08  House: Prefiled and ordered printed; offered 01/09/08 080599680  pdf | impact statement

HISTORY

• 01/09/08  House: Prefiled and ordered printed; offered 01/09/08 080599680
• 01/09/08  House: Referred to Committee on Appropriations
• 01/15/08  House: Assigned App. sub: Compensation and Retirement (Jones, S.C.)
• 02/12/08  House: Left in Appropriations