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2023 SESSION

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HB 2314 Health insurance; credits for retired state employees.

Introduced by: Sam Rasoul | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Health insurance credits; retired state employees. Increases, beginning July 1, 2024, from $4 per year of creditable service to $4.25 per year of creditable service the amount of each monthly health insurance credit provided by the Commonwealth for the cost of health insurance coverage for any retired state employee.

SUMMARY AS PASSED HOUSE:

Health insurance credits; retired state employees. Increases annually the amount of the health insurance credit for certain retirees who rendered at least 30 years of creditable service in the Virginia Retirement System. The bill increases the credit by the same percentage as any annual post-retirement supplement that is calculated for employees hired on or after July 1, 2010.

SUMMARY AS INTRODUCED:

Health insurance credits; retired state employees. Increases from $4 per year of creditable service to $5 per year of creditable service the amount of each monthly health insurance credit provided by the Commonwealth toward the cost of health insurance coverage for any retired state employee.