Sunday, September 7, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
HJ634: Retirement System; Joint Legislative Audit and Review Commission to study benefit programs.
WHEREAS, the Virginia Retirement System administers numerous benefit programs for over 500,000 of the Commonwealth's public current and retired state employees; and
WHEREAS, the Virginia Retirement System has been in place since 1952 and may not fit the needs of today's workforce; and
WHEREAS, Virginia and its political subdivisions must have excellent retirement and other related benefits to attract and retain a quality workforce; now, therefore, be it
RESOLVED by the House of Delegates, the Senate concurring, That the Joint Legislative Audit and Review Commission be directed to study the benefit programs offered by the Virginia Retirement System.
In conducting its study, the Joint Legislative Audit and Review Commission shall comprehensively evaluate all benefit programs administered by the Virginia Retirement System, including, but not limited to: service and disability retirement, pension death benefits, life insurance, deferred compensation, short and long-term disability benefits, long-term care insurance, health insurance credits, law-enforcement benefits, and defined contribution plans, to determine if any programs need to be altered or if any new programs need to be created to attract and retain a quality workforce. All agencies of the Commonwealth shall provide assistance to the Joint Legislative Audit and Review Commission for this study, upon request.
The Joint Legislative Audit and Review Commission shall complete its meetings by November 30, 2007, and the chairman shall submit to the Division of Legislative Automated Systems an executive summary of its findings and recommendations no later than the first day of the 2008 Regular Session of the General Assembly. The executive summary shall state whether the Joint Legislative Audit and Review Commission intends to submit to the General Assembly and the Governor a report of its findings and recommendations for publication as a House or Senate document. The executive summary and report shall be submitted as provided in the procedures of the Division of Legislative Automated Systems for the processing of legislative documents and reports and shall be posted on the General Assembly's website.
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