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1997 SESSION
HB 1683 Retirement System; deferred compensation plans.
Introduced by: W. Tayloe Murphy, Jr. | all patrons ... notes | add to my profiles
SUMMARY:
Virginia Retirement System; deferred compensation plans. Amends language implementing the deferred compensation plan to reflect current practices in administering the plan at VRS and the Department of Accounts, including the recent privatization of some of DOA's functions to a third-party administrator. To permit compliance with new Internal Revenue Code § 457 (g), the bill also authorizes any county, municipality, authority, or other political subdivision of the Commonwealth which adopts and establishes its own deferred compensation plan to create a trust or other special fund for segregating the funds or assets resulting from compensation deferred at the request of its employees for the implementation of such plan. The bill also authorizes VRS to enter into an agreement with any political subdivision of the Commonwealth to permit participation by the political subdivision's employees in the deferred compensation plan established and administered by the VRS Board.
FULL TEXT
- 01/08/97 House: Presented & ordered printed, prefiled 01/07/97 970836854 pdf
- 02/22/97 House: Bill text as passed House and Senate (HB1683ER) pdf
- 03/17/97 Governor: Acts of Assembly Chapter text (CHAP0174) pdf
HISTORY
- 01/08/97 House: Presented & ordered printed, prefiled 01/07/97 970836854
- 01/08/97 House: Referred to Committee on Appropriations
- 01/29/97 House: Reported from Appropriations (22-Y 0-N)
- 01/30/97 House: Read first time
- 01/31/97 House: Read second time and engrossed
- 02/01/97 House: Passed House (-Y -N)
- 02/01/97 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 02/01/97 House: Reconsideration of passage agreed to by House
- 02/01/97 House: Passed House Block Vote) (100-Y 0-N)
- 02/01/97 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 02/01/97 House: Communicated to Senate
- 02/03/97 Senate: Constitutional reading dispensed (36-Y 4-N)
- 02/03/97 Senate: Referred to Committee on Finance
- 02/12/97 Senate: Reported from Finance (17-Y 0-N)
- 02/13/97 Senate: Const. reading disp., passed by for the day (39-Y 0-N)
- 02/13/97 Senate: VOTE: CONST. READING DISPENSED (39-Y 0-N)
- 02/13/97 Senate: Reconsideration of passed by for the day (40-Y 0-N)
- 02/13/97 Senate: VOTE: (40-Y 0-N)
- 02/13/97 Senate: Passed by for the day
- 02/14/97 Senate: Read third time
- 02/14/97 Senate: Passed Senate (40-Y 0-N)
- 02/14/97 Senate: VOTE: PASSAGE (40-Y 0-N)
- 02/22/97 House: Bill text as passed House and Senate (HB1683ER)
- 02/26/97 House: Enrolled
- 02/26/97 House: Signed by Speaker
- 02/27/97 Senate: Signed by President
- 03/08/97 Governor: Approved by Governor-Chapter 174 (effective 7/1/97)
- 03/17/97 Governor: Acts of Assembly Chapter text (CHAP0174)