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2008 SESSION

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SB 187 Retirement System; average final compensation retirement multiplier for teachers.

Introduced by: Mark R. Herring | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Retirement System; average final compensation retirement multiplier for teachers.  Increases from 1.7 to 2.0 the average final compensation retirement multiplier for teachers with five or more years of creditable service earned as a teacher. The 2.0 multiplier would apply to the total amount of creditable service at the time of retirement, regardless if some portion of the total amount of creditable service relates to other than teaching. The bill applies to current and future retirees.


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