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2015 SESSION

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HB 1998 State and federal programs; VRS shall convene a work group to review, etc.

Introduced by: Luke E. Torian | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Virginia Retirement System work group to develop recommendations to encourage and facilitate saving for retirement. Requires the Virginia Retirement System (VRS) to convene a work group to review current state and federal programs that encourage citizens of the Commonwealth to save for retirement by participating in retirement savings plans. The review will include an examination of retirement savings options for self-employed individuals, part-time employees, full-time employees whose employers do not offer a retirement savings plan, and groups with a low savings rate. The work group will include representatives of VRS, the Department of Taxation, small business, the self-employed, the Virginia College Savings Plan, and other stakeholders. The bill requires VRS to report its findings, which may include recommendations for statutory changes or amendments to the general appropriation act, to the Governor and the General Assembly by January 1, 2017.


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