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2015 SESSION
SB 978 Virginia Retirement System; participation in Plan One.
Introduced by: Frank M. Ruff, Jr. | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED SENATE:
Virginia Retirement System; participation in Plan One. Allows an employee hired before July 1, 2010, who did not have at least 60 months of creditable service as of January 1, 2013, to make a one-time, irrevocable election to participate in the Virginia Retirement System as a Plan One employee. The provisions of the bill are contingent on an appropriation of at least $107.3 million to an unfunded liability special fund in a 2015 general appropriation act.
SUMMARY AS INTRODUCED:
Virginia Retirement System; participation in Plan One. Allows an employee hired before July 1, 2010, who did not have at least 60 months of creditable service as of January 1, 2013, to make a one-time, irrevocable election to participate in the Virginia Retirement System as a Plan One employee.