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2012 SESSION

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SB 497 Virginia Retirement System; local government and school board employees, contributions.

Introduced by: John C. Watkins | all patrons    ...    notes | add to my profiles

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)

Virginia Retirement System employee contributions; local employees; school board employees.  Requires that persons employed by local government or school board employers be required to pay the five percent employee contribution to the Virginia Retirement System. Employers would be authorized to phase in the five percent contribution over a maximum of five years, and would be required to provide employees with a raise to offset the employee contributions.


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