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1999 SESSION

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HB 1612 Retirement System; technical corrections and administrative changes.

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

SUMMARY AS PASSED: (all summaries)

Virginia Retirement System; technical corrections and administrative changes. Provides technical revisions to various VRS provisions. Additional changes simplify the administration of the system. These changes include (i) making vesting and final compensation consistent regardless of the date of termination so that the calculation of benefits is uniform and (ii) eliminating the requirement that a member’s parents be “wholly dependent” in order to receive benefits if the member dies prior to retirement.


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