Retirement System; Board shall pay cash-out amount in direct rollover to an individual plan. (HB419)

Introduced By

Del. Lacey Putney (I-Bedford)

Progress

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

Description

Retirement; mandatory cash-outs. Provides that if a member does not elect a direct rollover or direct payment of a mandatory cash-out greater than $1,000, the Board of the Virginia Retirement System shall pay the cash-out amount in a direct rollover to an individual retirement plan designated by the Board. Read the Bill »

Status

04/05/2006: signed by governor

History

DateAction
01/06/2006Prefiled and ordered printed; offered 01/11/06 069152164
01/06/2006Referred to Committee on Appropriations
01/25/2006Fiscal impact statement from VRS (HB419)
01/27/2006Assigned App. sub: Compensation and Retirement (Putney)
02/08/2006Reported from Appropriations with substitute (23-Y 0-N)
02/09/2006Committee substitute printed 069214476-H1
02/10/2006Read first time
02/13/2006Read second time
02/13/2006Committee substitute agreed to 069214476-H1
02/13/2006Engrossed by House - committee substitute HB419H1
02/14/2006Read third time and passed House BLOCK VOTE (100-Y 0-N)
02/14/2006VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
02/14/2006Communicated to Senate
02/15/2006Constitutional reading dispensed
02/15/2006Referred to Committee on Finance
02/27/2006Fiscal impact statement from VRS (HB419H1)
03/01/2006Reported from Finance (15-Y 0-N)
03/02/2006Constitutional reading dispensed (39-Y 0-N)
03/02/2006VOTE: (39-Y 0-N)
03/03/2006Read third time
03/03/2006Passed Senate (39-Y 0-N)
03/03/2006VOTE: (39-Y 0-N)
03/11/2006Bill text as passed House and Senate (HB419ER)
03/11/2006Enrolled
03/11/2006Signed by Speaker
03/13/2006Signed by President
03/20/2006Fiscal impact statement from VRS (HB419ER)
04/05/2006G Approved by Governor-Chapter 637 (effective 7/1/06)
04/14/2006G Acts of Assembly Chapter text (CHAP0637)