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1998 SESSION

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HB 188 Early retirement for certain VRS members.

Introduced by: Phillip A. Hamilton | all patrons    ...    notes | add to my profiles

SUMMARY:

Early retirement for certain VRS members. Provides that the "penalty" for taking early retirement, i.e., the reduction in benefits for retiring with less than 30 years of creditable service, shall not apply to members of the retirement system who, on the actual date of their retirement, (i) are at least age 50 and (ii) have completed 30 years of creditable service. Localities are given the option to not participate in this program. There are technical amendments which clarify that there are three different groups of people who are members of VRS and have two conditions to meet in order to get the full retirement allowance before the normal retirement age.

FULL TEXT

• 01/15/98  House: Presented & ordered printed 982895264  pdf

HISTORY

• 01/15/98  House: Presented & ordered printed 982895264
• 01/15/98  House: Referred to Committee on Appropriations
• 02/13/98  House: Passed by indefinitely in Appropriations (29-Y 0-N)