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1998 SESSION

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HB 299 Workforce Transition Act Corrective Payments.

Introduced by: James M. Shuler | all patrons    ...    notes | add to my profiles

SUMMARY:

Workforce Transition Act Corrective Payments. Directs the Virginia Retirement System to pay to former employees who retired from state service based on the miscalculation of their Workforce Transition Act credits the amount they expected to receive in retirement benefits. Beginning July 1, 1998, the VRS is directed to restore the monthly retirement benefits of the adversely affected former employees to the amount initially paid by the VRS at the time of their retirement under the Workforce Transition Act.


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