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1999 SESSION

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994638297
HOUSE BILL NO. 1573 Offered January 13, 1999 Prefiled January 12, 1999 A BILL to amend and reenact § 60.2-604 of the Code of Virginia, relating to unemployment compensation; benefit reductions; pensions. ---------- Patron-- Hull (By Request) ---------- Referred to Committee on Labor and Commerce ----------

Be it enacted by the General Assembly of Virginia:

1. That § 60.2-604 of the Code of Virginia is amended and reenacted as follows:

§ 60.2-604. Reduction of benefit amount by amount of pension.

The weekly benefit amount payable to an individual for any week which begins in a period for which such individual is receiving a governmental or other pension, retirement or retired pay, annuity, or any other similar periodic payment under a plan maintained or contributed to by a base period or chargeable employer based on the previous work of such individual, including payments received by such individual in accordance with § 65.2-500 or § 65.2-502, shall be reduced, but not below zero, by an amount equal to the amount of such pension, retirement or retired pay, annuity, or other payment, which is reasonably attributable to such week. However, no such reduction shall be made for any such pension, retirement or retired pay, annuity, or any other payment from any source, funded in whole or in part by such individual.