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2015 SESSION

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SB 1022 Virginia Retirement System; increase of retirement allowance.

Introduced by: Charles J. Colgan | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Virginia Retirement System benefits. Provides for an increase, beginning July 1, 2015, of the monthly retirement allowance payable to any person who retired with at least 15 years of creditable service before January 1, 1990, under the Virginia Retirement System or the State Police Officers' Retirement System (or predecessor retirement systems). The provisions of the bill are contingent on an appropriation of at least $74.5 million to the Unfunded Liability Special Reserve Fund in a 2015 general appropriation act.


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