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2012 SESSION

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HB 511 VRS; calculation for pension fund liabilities and assumed rate of return on its investments.

Introduced by: Harry R. Purkey | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Retirement System.  Requires that the Virginia Retirement System (i) adjust annually its calculation of pension fund liabilities and obligations by the rate of interest on 10-year U.S. Treasury notes and (ii) assume a rate of return on its investments no greater than the rate of interest on such notes. The bill shall expire whenever the funding level for the Virginia Retirement System is at least 90 percent of actuarial attested premium obligations and liabilities for three consecutive years.


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