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1995 SESSION

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SB 959 Workforce Transition Act of 1995.

Introduced by: Richard J. Holland | all patrons    ...    notes | add to my profiles

SUMMARY:

Workforce Transition Act of 1995. Establishes a program to provide a transitional severance benefit to certain state employees who are dismissed from employment with the Commonwealth after January 1, 1995, or after July 1, 1994, if age 50 with 15 years of service, under the conditions specified in the bill. An incentive program is also established to induce certain state employees to leave state employment voluntarily. The bill allows members of the Virginia Retirement System and the State Police Officers' Retirement System who are at least age 50 and have at least 10 years of service to retire and start collecting a reduced retirement benefit.


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