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1999 SESSION
SB 854 Deferred Retirement Option Program.
Introduced by: Kenneth W. Stolle | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Deferred retirement option program. Establishes a deferred retirement option program for state employees, state police officers, local government employees, teachers, and judges. To participate in the program, members must be eligible to retire under VRS, SPORS, or the JRS with unreduced benefits. The employee continues working during the period of his participation in the program, not to exceed five years, during which time a percentage of the amount of the monthly retirement benefits that he would have received if he had retired instead of enrolling in the program is deposited in an account. The percentage,determined at an amount that ensures that the program does not affect employer contribution rates, shall not exceed 100 percent. The account balance, with interest, shall be paid to the participant when he retires.
FULL TEXT
- 01/13/99 Senate: Presented & ordered printed 999523739 pdf
- 01/28/99 Senate: Printed as engrossed 999523739-E pdf
AMENDMENTS
HISTORY
- 01/13/99 Senate: Presented & ordered printed 999523739
- 01/13/99 Senate: Referred to Committee on Finance
- 01/26/99 Senate: Reported from Finance (17-Y 0-N)
- 01/27/99 Senate: Constitutional reading dispensed (39-Y 0-N)
- 01/27/99 Senate: VOTE: CONST. RDG. DISPENSED R (39-Y 0-N)
- 01/28/99 Senate: Read second time
- 01/28/99 Senate: Reading of amendments waived
- 01/28/99 Senate: Amendments by Sen. Stolle agreed to
- 01/28/99 Senate: Engrossed by Senate as amended
- 01/28/99 Senate: Printed as engrossed 999523739-E
- 01/29/99 Senate: Read third time and passed Senate (40-Y 0-N)
- 01/29/99 Senate: VOTE: PASSAGE R (40-Y 0-N)
- 01/29/99 Senate: Communicated to House
- 02/01/99 House: Placed on Calendar
- 02/02/99 House: Read first time
- 02/02/99 House: Referred to Committee on Appropriations
- 02/02/99 House: Assigned to App. sub-committee: Compensation/Retirement
- 02/25/99 House: Passed by indefinitely in Appropriations (23-Y 4-N)