Retirement System; increases benefits of certain future retirees. (HB89)

Introduced By

Del. Vince Callahan (R-McLean)

Description

Virginia Retirement System; benefits. Increases monthly retirement benefits of certain future retirees by increasing the percentage of average final compensation multiplied by the amount of creditable service from 1.7 to 2.0 for years of service in excess of 25 years for most state employees, and from 2.0 to 2.3 for certain state law-enforcement officers. Amends § 51.1-155 (“Service retirement allowance.”), § 51.1-206 (“Service retirement allowance.”), § 51.1-217 (“Service retirement allowance.”), of the Code of Virginia. View Full Text »

Outcome

No Richmond Sunlight visitors voted on this bill while voting was open.