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1996 SESSION

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HB 1406 Retirement System; post-retirement supplements.

Introduced by: Lacey E. Putney | all patrons    ...    notes | add to my profiles

SUMMARY:

Virginia Retirement System; post-retirement supplements. Beginning July 1, 1997, requires the contribution rates for all employers to include an amount not less than twenty percent of the total annual amount necessary to fund all post-retirement supplements. Contribution rates for all employers shall increase thereafter until, beginning July 1, 2002, such rates include an amount equal to 100 percent of the total annual amount necessary to fund all post-retirement supplements.


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