Retirement System; changes in benefits for state employees, state & local law-enforcement officers. (HB369)

Introduced By

Sen. Bill Carrico (R-Grayson) with support from co-patrons Del. Todd Gilbert (R-Woodstock), Del. Steve Landes (R-Weyers Cave), Del. Chris Peace (R-Mechanicsville), and Sen. Roscoe Reynolds (D-Martinsville)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Retirement; state employees, state police and law-enforcement officers, and certain local law-enforcement officers. Modifies the retirement benefits of non-law-enforcement state employees by increasing from 1.7 percent to 2.0 percent the percentage of average final compensation multiplied by the years of creditable service and modifies the retirement benefits of state police and law-enforcement officers and certain local law-enforcement officers by (i) increasing from 1.7 percent to 2.7 percent the percentage of average final compensation multiplied by the years of creditable service in such positions, and by deleting the supplemental allowance currently paid to members upon retirement until their Social Security retirement age, and (ii) deleting the minimum age requirement for members with 25 or more years of service. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/06/2006Prefiled and ordered printed; offered 01/11/06 067023264
01/06/2006Referred to Committee on Appropriations
01/27/2006Assigned App. sub: Compensation and Retirement (Putney)
01/29/2006Fiscal impact statement from VRS (HB369)
02/15/2006Left in Appropriations