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1995 SESSION

• | print version

HB 503 Retirement System; prefunding of post-retirement benefits.

Introduced by: George H. Heilig, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Virginia Retirement System; prefunding of post-retirement benefits. Requires that, beginning in the 1996-98 biennium, the normal employer contribution rate for any employer shall be determined as the percentage represented by the ratio of (i) the annual normal cost to provide the benefits of the retirement system, including post-retirement supplements provided under § 51.1-166, with respect to members employed by the employer in excess of the members' contributions to (ii) the total annual compensation of the members.

FULL TEXT

• 01/24/94  House: Presented and ordered printed  pdf

HISTORY

• 01/24/94  House: Presented and ordered printed
• 01/24/94  House: Referred to Committee on Appropriations
• 02/08/94  House: Continued to 1995 in Appropriations (22-Y 0-N)
• 12/19/94  House: No action taken by Appropriations by voice vote