Retirement System; defined contribution retirement plan. (HB1941)
Introduced By
Del. Bob Purkey (R-Virginia Beach)
Progress
✓ |
Introduced |
☐ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Virginia Retirement System; defined contribution retirement plan. Creates a new defined contribution retirement plan for all employees who begin employment on or after July 1, 2008, in lieu of participating in any other retirement plan administered by the Virginia Retirement System. All other employees may elect to participate in the plan in lieu of participating in any other retirement plan administered by the Virginia Retirement System. Read the Bill »
Outcome
Bill Has Failed
History
| Date | Action |
|---|---|
| 01/05/2007 | Committee |
| 01/05/2007 | Prefiled and ordered printed; offered 01/10/07 078366472 |
| 01/05/2007 | Referred to Committee on Appropriations |
| 01/10/2007 | Assigned App. sub: Compensation and Retirement (Putney) |
| 01/19/2007 | Impact statement from VRS (HB1941) |
Comments
So now they are attempting to take the VRS pension plan away from future generation of state workers to be replaced by a 401K type plan. After major corporations are looting and dumping their good plans, I never thought Virginia would do this to their own workers.
Unbelievable.