HB451: Retirement System; forfeiture of eligibility.
Be it enacted by the General Assembly of Virginia:
1. That §§ 51.1-153, 51.1-205, 51.1-216, and 51.1-305 of the Code of Virginia are amended and reenacted as follows:
§ 51.1-153. Service retirement.
A. Normal retirement. - Any member in service at his normal retirement date with five or more years of creditable service may retire at any time upon written notification to the Board setting forth the date the retirement is to become effective. Any member in service who was denied membership prior to July 1, 1987, as a result of being age sixty or over when first employed may retire at any time after his normal retirement date and the requirement of having five or more years of service shall not apply.
B. Early retirement. - 1. Any member in service who has attained his fifty-fifth birthday with five or more years of creditable service may retire prior to his normal retirement date upon written notification to the Board setting forth the date the retirement is to become effective.
2. Any state employee, teacher, or employee of a political subdivision who is a member of the retirement system may retire prior to his normal retirement date after attaining age fifty and thirty years of creditable service, upon written notification to the Board setting forth the date the retirement is to become effective. The benefit for such member shall be calculated in accordance with the provisions of subdivision A 1 of § 51.1-155.
C. Deferred retirement for members terminating service. - Any
member who terminates service after five or more years of creditable service,
regardless of termination date, may retire under the provisions of subsection
A, B, or D of this section if he has not withdrawn his accumulated
contributions prior to the effective date of his retirement or if he has five
or more years of creditable service for which his employer has paid the
contributions and such contributions cannot be withdrawn. For the purposes of
this subsection, any requirements as to the member being in service shall not
apply. No member shall be entitled to the benefits of
this subsection if his employer certifies that his service was terminated
because of dishonesty, malfeasance, or misfeasance in office. The certification
may be appealed to the Board.
D. 50/10 retirement. - Any member in service on or after January 1, 1994, who has attained his fiftieth birthday with ten or more years of creditable service may retire prior to his normal retirement date upon written notification to the Board setting forth the date the retirement is to become effective.
E. Effective date of retirement. - The effective date of retirement shall be after the last day of service of the member, but shall not be more than ninety days prior to the filing of the notice of retirement.
F. Notification on behalf of member. - If the member is physically or mentally unable to submit written notification of his intention to retire, the member's appointing authority may submit notification on his behalf.
G. A member of the retirement system whose service is terminated because of dishonesty, malfeasance, or misfeasance in office will be divested of his entitlement to any and all service or disability retirement benefits if the member's employer provides VRS with: (i) a final judgment or order issued by a court of competent jurisdiction establishing that the member's service was terminated because of dishonesty, malfeasance, or misfeasance in office; or (ii) an agreement entered into by the member acknowledging that the member's service was terminated because of dishonesty, malfeasance, or misfeasance in office.
1. For the purposes of this section, a judgment or order will be considered final if the time within which notice of appeal must be filed has lapsed, no notice has been filed, and no appeal or other action seeking post-judgment or post-order remedy is pending.
2. Upon receipt from the member's employer of either of the above-described documents, VRS shall immediately terminate the member's service and process a refund of the member's accumulated contributions pursuant to the provisions of § 51.1-161.
3. VRS may hold in abeyance the processing of a member's retirement application upon receipt from an employer of notice that the member has been terminated because of dishonesty, malfeasance, or misfeasance in office together with: (i) documentation establishing that legal action has been commenced to establish the basis for the termination; or (ii) an agreement entered into by the member that the retirement application may be suspended.
4. All service credit lost from ceasing to be a member pursuant to the provisions of this section shall be ineligible for purchase pursuant to § 51.1-142.2 at any future time should the former member obtain employment in a position covered by the retirement system.
§ 51.1-205. Service retirement generally.
A. Normal retirement. - Any member in service at his normal retirement date with five or more years of creditable service (i) as a member in the retirement system established by this chapter, (ii) as a member in the retirement system established by Chapter 2.1 (§ 51.1-211 et seq.) of this title, or (iii) while earning the benefits permitted by § 51.1-138 may retire upon written notification to the Board, setting forth the date the retirement is to become effective. Any member, except one appointed by the Governor or elected by the people, who attains 70 years of age shall be retired forthwith. Any employer, subsequent to the employee's normal retirement date, may provide for compulsory service retirement upon a determination that age is a bona fide occupational qualification reasonably necessary to the normal operation of the particular business or that the employee is incapable of performing his duties in a safe and efficient manner. Any such determination shall be made by the employer.
Effective December 31, 2003, any member in service on June 30, 2002, and July 1, 2002, who is credited with five or more years of creditable service rendered under Chapter 1 (§ 51.1-100 et seq.), this chapter, or Chapter 2.1 (§ 51.1-211 et seq.) of this title shall not be subject to the vesting requirements of this section, and §§ 51.1-138 and 51.1-216.
B. Early retirement. - Any member in service who has attained his fiftieth birthday with five or more years of creditable service (i) as a member in the retirement system established by this chapter, (ii) as a member in the retirement system established by Chapter 2.1 (§ 51.1-211 et seq.) of this title, or (iii) while earning the benefits permitted by § 51.1-138 may retire upon written notification to the Board setting forth the date the retirement is to become effective.
Effective December 31, 2003, any member in service on June 30, 2002, and July 1, 2002, who is credited with five or more years of creditable service rendered under Chapter 1 (§ 51.1-100 et seq.), this chapter, or Chapter 2.1 (§ 51.1-211 et seq.) of this title shall not be subject to the vesting requirements of this section, and §§ 51.1-138 and 51.1-216.
C. Deferred retirement for members terminating service. - Any
member who terminates service after five or more years of creditable service
(i) as a member in the retirement system established by this chapter, (ii) as a
member in the retirement system established by Chapter 2.1 (§ 51.1-211 et seq.)
of this title, or (iii) while earning the benefits permitted by § 51.1-138, may
retire under the provisions of subsection A, B, or D of this section if he has
not withdrawn his accumulated contributions prior to the effective date of his
retirement or if he has five or more years of creditable service (a) as a
member in the retirement system established by this chapter, (b) as a member in
the retirement system established by Chapter 2.1 (§ 51.1-211 et seq.) of this
title, or (c) while earning the benefits permitted by § 51.1-138, regardless of
termination date, for which his employer has paid the contributions and such
contributions cannot be withdrawn. For the purposes of this subsection, any
requirements as to the member being in service shall not apply. No
member shall be entitled to the benefits of this subsection if his employer
certifies that his service was terminated because of dishonesty, malfeasance,
or misfeasance in office. The certification may be appealed to the Board.
Effective December 31, 2003, any member in service on June 30, 2002, and July 1, 2002, who is credited with five or more years of creditable service rendered under Chapter 1 (§ 51.1-100 et seq.), this chapter, or Chapter 2.1 (§ 51.1-211 et seq.) of this title shall not be subject to the vesting requirements of this section, and §§ 51.1-138 and 51.1-216.
D. Effective date of retirement. - The effective date of retirement shall be after the last day of service of the member, but shall not be more than 90 days prior to the filing of the notice of retirement.
E. Notification on behalf of member. - If the member is physically or mentally unable to submit written notification of his intention to retire, the member's appointing authority may submit notification on his behalf.
F. A member of the retirement system whose service is terminated because of dishonesty, malfeasance, or misfeasance in office will be divested of his entitlement to any and all service or disability retirement benefits if the member's employer provides VRS with: (i) a final judgment or order issued by a court of competent jurisdiction establishing that the member's service was terminated because of dishonesty, malfeasance, or misfeasance in office; or (ii) an agreement entered into by the member acknowledging that the member's service was terminated because of dishonesty, malfeasance, or misfeasance in office.
1. For the purposes of this section, a judgment or order will be considered final if the time within which notice of appeal must be filed has lapsed, no notice has been filed, and no appeal or other action seeking post-judgment or post-order remedy is pending.
2. Upon receipt from the member's employer of either of the above-described documents, VRS shall immediately terminate the member's service and process a refund of the member's accumulated contributions pursuant to the provisions of § 51.1-161.
3. VRS may hold in abeyance the processing of a member's retirement application upon receipt from an employer of notice that the member has been terminated because of dishonesty, malfeasance, or misfeasance in office together with: (i) documentation establishing that legal action has been commenced to establish the basis for the termination; or (ii) an agreement entered into by the member that the retirement application may be suspended.
4. All service credit lost from ceasing to be a member pursuant to the provisions of this section shall be ineligible for purchase pursuant to § 51.1-142.2 at any future time should the former member obtain employment in a position covered by the retirement system.
§ 51.1-216. Service retirement generally.
A. Normal retirement.
1. Any employee commencing employment or reemployment on or after July 1, 2001, and any employee who makes the election provided in § 51.1-221, who is a member in service in any retirement program administered by the Virginia Retirement System at his normal retirement date with five or more years of creditable service (i) as a member in the retirement system established by this chapter, (ii) as a member in the retirement system established by Chapter 2 (§ 51.1-200 et seq.) of this title, or (iii) while earning the benefits permitted by § 51.1-138, may retire upon written notification to the Board, setting forth the date the retirement is to become effective.
Effective December 31, 2003, any employee in service on June 30, 2002, and July 1, 2002, who is credited with five or more years of creditable service rendered under Chapter 1 (§ 51.1-100 et seq.) of this title, Chapter 2 (§ 51.1-200 et seq.) of this title, or this chapter shall not be subject to the vesting requirements of this section, and §§ 51.1-138 and 51.1-205.
2. Any other employee who is a member in service at his normal retirement date with five or more years of creditable service (i) as a member in the retirement system established by this chapter, (ii) as a member in the retirement system established by Chapter 2 (§ 51.1-200 et seq.) of this title, or (iii) while earning the benefits permitted by § 51.1-138 may retire upon written notification to the Board, setting forth the date the retirement is to become effective.
Effective December 31, 2003, any employee in service on June 30, 2002, and July 1, 2002, who is credited with five or more years of creditable service rendered under Chapter 1 (§ 51.1-100 et seq.) of this title, Chapter 2 (§ 51.1-200 et seq.) of this title, or this chapter shall not be subject to the vesting requirements of this section, and §§ 51.1-138 and 51.1-205.
3. A member of the retirement system whose service is terminated because of dishonesty, malfeasance, or misfeasance in office will be divested of his entitlement to any and all service or disability retirement benefits if the member's employer provides VRS with: (i) a final judgment or order issued by a court of competent jurisdiction establishing that the member's service was terminated because of dishonesty, malfeasance, or misfeasance in office; or (ii) an agreement entered into by the member acknowledging that the member's service was terminated because of dishonesty, malfeasance, or misfeasance in office.
For the purpose of this section, a judgment or order will be considered final if the time within which notice of appeal must be filed has lapsed, no notice has been filed, and no appeal or other action seeking post-judgment or post-order remedy is pending.
Upon receipt from the member's employer of either of the above-described documents, VRS shall immediately terminate the member's service and process a refund of the member's accumulated contributions pursuant to the provisions of § 51.1-161.
VRS may hold in abeyance the processing of a member's retirement application upon receipt from an employer of notice that the member has been terminated because of dishonesty, malfeasance, or misfeasance in office together with: (i) documentation establishing that legal action has been commenced to establish the basis for the termination; or (ii) an agreement entered into by the member that the retirement application may be suspended.
All service credit lost from ceasing to be a member pursuant to the provisions of this section shall be ineligible for purchase pursuant to § 51.1-142.2 at any future time should the former member obtain employment in a position covered by the retirement system.
B. Early retirement.
1. Any employee commencing employment or reemployment on or after July 1, 2001, and any employee who makes the election provided in § 51.1-221, who is a member in service in any retirement program administered by the Virginia Retirement System other than the program established by this chapter shall retire pursuant to the early retirement provisions of the retirement program of which he is a member at the time of retirement.
Effective December 31, 2003, any employee in service on June 30, 2002, and July 1, 2002, who is credited with five or more years of creditable service rendered under Chapter 1 (§ 51.1-100 et seq.) of this title, Chapter 2 (§ 51.1-200 et seq.) of this title, or this chapter shall not be subject to the vesting requirements of this section, and §§ 51.1-138 and 51.1-205.
2. Any other employee who is a member in service and who has attained his fiftieth birthday with five or more years of creditable service (i) as a member in the retirement system established by this chapter, (ii) as a member in the retirement system established by Chapter 2 (§ 51.1-200 et seq.) of this title, or (iii) while earning the benefits permitted by § 51.1-138 may retire upon written notification to the Board setting forth the date the retirement is to become effective.
Effective December 31, 2003, any employee in service on June 30, 2002, and July 1, 2002, who is credited with five or more years of creditable service rendered under Chapter 1 (§ 51.1-100 et seq.) of this title, Chapter 2 (§ 51.1-200 et seq.) of this title, or this chapter shall not be subject to the vesting requirements of this section, and §§ 51.1-138 and 51.1-205.
C. Deferred retirement for members terminating service.
1. Any employee commencing employment or reemployment on or after July 1, 2001, and any employee who makes the election provided in § 51.1-221, who terminates service from any position with membership in any retirement program administered by the Virginia Retirement System, may retire under the provisions of subdivision A 1 or B 1 if (i) he is otherwise eligible for such benefits, (ii) he has not withdrawn his accumulated contributions prior to the effective date of his retirement, and (iii) he has five or more years of creditable service (a) as a member in the retirement system established by this chapter, (b) as a member in the retirement system established by Chapter 2 (§ 51.1-200 et seq.) of this title, or (c) while earning the benefits permitted by § 51.1-138 for which his employer has paid the contributions and such contributions cannot be withdrawn. For the purposes of this subsection, any requirements as to the member being in service shall not apply. No member shall be entitled to the benefits of this subsection if his employer certifies that his service was terminated because of dishonesty, malfeasance, or misfeasance in office. The certification may be appealed to the Board.
Effective December 31, 2003, any employee in service on June 30, 2002, and July 1, 2002, who is credited with five or more years of creditable service rendered under Chapter 1 (§ 51.1-100 et seq.) of this title, Chapter 2 (§ 51.1-200 et seq.) of this title, or this chapter shall not be subject to the vesting requirements of this section, and §§ 51.1-138 and 51.1-205.
2. Any other member who terminates service after five or more
years of creditable service (i) as a member in the retirement system
established by this chapter, (ii) as a member in the retirement system
established by Chapter 2 (§ 51.1-200 et seq.) of this title, or (iii) while
earning the benefits permitted by § 51.1-138 may retire under the provisions of
subdivision A 2 or B 2 if he has not withdrawn his accumulated contributions
prior to the effective date of his retirement or if he has five or more years
of creditable service (a) as a member in the retirement system established by
this chapter, (b) as a member in the retirement system established by Chapter 2
(§ 51.1-200 et seq.) of this title, or (c) while earning the benefits permitted
by § 51.1-138 for which his employer has paid the contributions and such
contributions cannot be withdrawn. For the purposes of this subsection, any
requirements as to the member being in service shall not apply. No
member shall be entitled to the benefits of this subsection if his employer
certifies that his service was terminated because of dishonesty, malfeasance,
or misfeasance in office. The certification may be appealed to the Board.
Effective December 31, 2003, any employee in service on June 30, 2002, and July 1, 2002, who is credited with five or more years of creditable service rendered under Chapter 1 (§ 51.1-100 et seq.) of this title, Chapter 2 (§ 51.1-200 et seq.) of this title, or this chapter shall not be subject to the vesting requirements of this section, and §§ 51.1-138 and 51.1-205.
D. Effective date of retirement. - The effective date of retirement shall be after the last day of service, but shall not be more than 90 days prior to the filing of the notice of retirement.
E. Notification on behalf of member. - If the member is physically or mentally unable to submit written notification of his intention to retire, the member's appointing authority may submit notification on his behalf.
§ 51.1-305. Service retirement generally.
A. Normal retirement. - Any member in service at his normal retirement date with five or more years of creditable service may retire upon written notification to the Board setting forth the date the retirement is to become effective.
B. Early retirement. - Any member in service who has either (i) attained his fifty-fifth birthday with five or more years of creditable service or (ii) in the case of a member of any of the previous systems immediately prior to July 1, 1970, complied with the requirements for retirement set forth under the provisions of such previous system as in effect immediately prior to July 1, 1970, may retire upon written notification to the Board setting forth the date the retirement is to become effective.
B1. Mandatory retirement. - Any member who attains 70 years of age shall be retired 20 days after the convening of the next regular session of the General Assembly. However, if the mandatory retirement provisions of this subdivision would require a member of the State Corporation Commission to be retired before the end of his elected term and such retirement would occur during a session of the General Assembly in which the General Assembly is required, pursuant to § 12.1-6, to elect another member or members of the State Corporation Commission to serve either a regular term or a portion of a regular term, such member who otherwise would be subject to the mandatory retirement provisions of this subdivision shall be retired upon the first to occur of (i) the expiration of the term to which he was elected or (ii) 20 days after the commencing of the regular session of the General Assembly that immediately follows the date such member attains 72 years of age. The provisions of this subsection shall apply only to those members who are elected or appointed to an original or subsequent term commencing after July 1, 1993.
C. Deferred retirement for members terminating service. - Any
member who terminates service after five or more years of creditable service
may retire under the provisions of subsection A or B of this section, if he has
not withdrawn his accumulated contributions prior to the effective date of his
retirement or if he has five or more years of creditable service for which his
employer has paid the contributions and such contributions cannot be withdrawn.
For the purposes of this subsection, any requirements as to the member being in
service shall not apply. No member shall be entitled to the benefits of this
subsection if his appointing authority certifies that his service was
terminated because of dishonesty, malfeasance, or misfeasance in office. The
certification may be appealed to the Board.
D. Effective date of retirement. - The effective date of retirement shall be after the last day of service of the member, but shall not be more than 90 days prior to the filing of the notice of retirement.
E. Notification of retirement. - In addition to the notice to the Board required by this section, the same notice shall be given by the member to his appointing authority. If a member is physically or mentally unable to submit written notification of his intention to retire, the member's appointing authority may submit notification to the Board on his behalf.
F. A member of the retirement system whose service is terminated because of dishonesty, malfeasance, or misfeasance in office will be divested of his entitlement to any and all service or disability retirement benefits if the member's employer provides VRS with: (i) a final judgment or order issued by a court of competent jurisdiction establishing that the member's service was terminated because of dishonesty, malfeasance, or misfeasance in office; or (ii) an agreement entered into by the member acknowledging that the member's service was terminated because of dishonesty, malfeasance, or misfeasance in office.
For the purposes of this section, a judgment or order will be considered final if the time within which notice of appeal must be filed has lapsed, no notice has been filed, and no appeal or other action seeking post-judgment or post-order remedy is pending.
Upon receipt from the member's employer of either of the above-described documents, VRS shall immediately terminate the member's service and process a refund of the member's accumulated contributions pursuant to the provisions of § 51.1-161.
VRS may hold in abeyance the processing of a member's retirement application upon receipt from an employer of notice that the member has been terminated because of dishonesty, malfeasance, or misfeasance in office together with: (i) documentation establishing that legal action has been commenced to establish the basis for the termination; or (ii) an agreement entered into by the member that the retirement application may be suspended.
All service credit lost from ceasing to be a member pursuant to the provisions of this section shall be ineligible for purchase pursuant to § 51.1-142.2 at any future time should the former member obtain employment in a position covered by the retirement system.