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2019 SESSION

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HB 2481 Virginia Retirement System; authorizes localities to opt out of group insurance program.

Introduced by: Joseph P. McNamara | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Retirement System; authorize localities to opt out of group insurance program. Authorizes a locality that participates in the Virginia Retirement System to opt out of the group insurance program and instead establish, either by self-funding or purchasing insurance, local life insurance coverage or accidental death and dismemberment insurance. Under current law, if a locality participates in the group insurance program, it is prohibited from withdrawing.


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