Thursday, July 24, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
SB175: Retirement System; increases the retirement allowances for future state and local retirees.
Chief Patron
Sen.
William Wampler (R-40)
William Wampler
(R-40)
Suite 308 Bristol, VA
Served: 1988–
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Status
Bill is Dead
Summary
Virginia Retirement System; retirement allowances. Increases the retirement allowances for future state and local retirees of the Virginia Retirement System (VRS), Law Enforcement Officers' Retirement System (LEOs), State Police Officers' Retirement System (SPORS), and the Virginia Law Officers' Retirement System (VaLORS) by gradually increasing, over a six-year period, the percentage of average final compensation that is multiplied by the amount of creditable service (i) from two percent to 2.3 percent for certain members of the Virginia Law Officers' Retirement System who are not eligible for the supplemental allowance and (ii) from 1.7 percent to two percent for all other such state and local employees.
The bill also increases by three percent (phased in over a six-year period) the annual retirement allowance of current retirees of VRS, LEOs, SPORS, and VaLORS. View Full Text »
Poll Results
No Richmond Sunlight visitors voted on this bill while voting was open.
