SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2014 SESSION
SB 79 Higher educational institutions; maintenance of optional retirement plan.
Introduced by: Frank M. Ruff, Jr. | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED SENATE:
Optional retirement plan maintained by institution of higher education; withdrawal of contributions before retirement. Allows the governing board of an institution of higher education to establish a policy regarding the number of years of service, or any portion thereof, that an employee must have performed before being entitled to receive all optional retirement plan contributions made on his behalf by the institution if he ceases to be an employee other than by death or retirement. The policy would only apply to employees hired on or after July 1, 2014, who are not in continuous service at the time of hiring.
SUMMARY AS INTRODUCED:
Optional retirement plan maintained by institution of higher education; withdrawal of contributions before retirement. Allows the governing board of an institution of higher education to establish a policy regarding the number of years of creditable service that an employee must have before being eligible for an unreduced refund of his accumulated contributions if he ceases to be an employee other than by death or retirement. The policy would only apply to employees hired on or after July 1, 2014.