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1995 SESSION

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LD6511739
SENATE BILL NO. 563 Offered January 25, 1994 A BILL to amend and reenact §§ 51.1-201, 51.1-202, and 51.1-203 of the Code of Virginia, relating to the State Police Officers' Retirement System. ----------
Patrons--Stolle, Barry, Bell, Benedetti, Calhoun, Chichester, Earley, Goode, Holland, C.A., Houck, Howell, Marsh, Miller, K.G., Norment, Potts, Quayle, Reasor, Stosch, Waddell, Wampler and Woods; Delegates: Albo, Cantor, Forbes, Ingram, Kilgore, Mims, Purkey, Reid, Ruff, Tata, Wagner and Wardrup
---------- Referred to the Committee on Finance ----------

Be it enacted by the General Assembly of Virginia:

1. That §§ 51.1-201, 51.1-202, and 51.1-203 of the Code of Virginia are amended and reenacted as follows:

§ 51.1-201. Definitions.

As used in this chapter, unless the context requires a different meaning:

"Employee" means a state police officer or a capitol police officer.

"Member" means any person included in the membership of the retirement system as provided in this chapter.

"Normal retirement date" means a member's sixtieth birthday.

"Retirement system" means the State Police Officers' Retirement System.

§ 51.1-202. Membership in retirement system.

Membership in the retirement system shall be compulsory for all state police officers and all capitol police officers.

§ 51.1-203. Creditable service.

A. Service qualifying for credit under the provisions of the Virginia Retirement System shall be included as creditable service for the purposes of this chapter, provided the requirements set forth in Chapter 1 of this title for crediting service have been complied with and any payment required is credited in the member's contribution account.

B. Service purchased in accordance with the provisions of § 51.1-143 shall not be considered:

1. In determining the actuarial equivalent for early retirement.

2. In determining the twenty years of service requirement of subsection B of § 51.1-206, except for that which had been rendered in a hazardous position and had been credited in the retirement system of a political subdivision of this Commonwealth.

3. Twice in determining any disability allowance payable under this chapter.

C. If a member ceases to be employed as a state police officer or a capitol police officer, has not received a refund of the accumulated contributions credited to his member's contribution account, and accepts employment in a position covered by the Virginia Retirement System or the Judicial Retirement System, he shall be entitled to credit for his previous creditable service under this chapter. His accumulated contributions shall be transferred and credited to his member's contribution account in the appropriate retirement system. Future retirement rights shall be as set forth under the provisions of the appropriate retirement system.