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1996 SESSION
HB 901 Retirement System; prior service credit for active military service.
Introduced by: Alan A. Diamonstein | all patrons ... notes | add to my profiles
SUMMARY:
Virginia Retirement System; prior service credit. Permits any vested member in service with at least 25 years of creditable VRS service to purchase prior service credit for (i) "active duty military service," as that term is defined in the bill, provided that the member's discharge was not dishonorable and the member has not withdrawn his accumulated contributions or (ii) certified creditable service in the retirement system of another state or (iii) both. The bill provides that such prior service credit shall be calculated at a ratio of one year to one year, up to a maximum of three years of prior service credit. The member must pay an amount equal to five percent of his present annual compensation for each year to be credited or five percent of his average annual creditable compensation during his 36 highest consecutive months of creditable service, whichever is greater. Prior service credit for more than three years may be purchased by the member pursuant to § 51.1-143. The bill applies to employees of political subdivisions unless the governing body opts out of the program by notifying the Board of Trustees on or before July 1, 1996. The bill contains an emergency clause.
FULL TEXT
- 01/22/96 House: Presented & ordered printed 967454204 pdf
- 03/19/96 House: Bill text as passed House and Senate (HB901ER) pdf
- 04/11/96 Governor: Acts of Assembly Chapter text (CHAP0625) pdf
AMENDMENTS
HISTORY
- 01/22/96 House: Presented & ordered printed 967454204
- 01/22/96 House: Referred to Committee on Appropriations
- 02/09/96 House: Reported from Appropriations (22-Y 0-N)
- 02/10/96 House: Read first time
- 02/12/96 House: Read second time and engrossed
- 02/13/96 House: Read third time and passed House (Block Vote) (100-Y 0-N)
- 02/13/96 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 02/13/96 House: Communicated to Senate
- 02/14/96 Senate: Read first time
- 02/14/96 Senate: Referred to Committee on Finance
- 03/04/96 Senate: Reported from Finance with amendment (16-Y 0-N 1-A)
- 03/05/96 Senate: Constitutional reading dispensed (39-Y 0-N)
- 03/05/96 Senate: VOTE: CONST. READING DISPENSED (39-Y 0-N)
- 03/06/96 Senate: Read third time
- 03/06/96 Senate: Reading of amendment waived
- 03/06/96 Senate: Committee amendment agreed to
- 03/06/96 Senate: Engrossed by Senate as amended
- 03/06/96 Senate: Passed Senate with amendment (38-Y 0-N)
- 03/06/96 Senate: VOTE: PASSAGE (38-Y 0-N)
- 03/07/96 House: Placed on Calendar
- 03/07/96 House: Senate amendment agreed to by House (98-Y 0-N)
- 03/07/96 House: VOTE: ADOPTION EMERGENCY (98-Y 0-N)
- 03/07/96 Senate: Emergency clause added
- 03/19/96 House: Bill text as passed House and Senate (HB901ER)
- 03/25/96 House: Enrolled
- 03/25/96 House: Signed by Speaker
- 03/26/96 Senate: Signed by President
- 04/05/96 Governor: Approved by Governor-Chapter 625 (effective 4/5/96)
- 04/11/96 Governor: Acts of Assembly Chapter text (CHAP0625)