Retirement System; benefits for certain state and local public safety officers. (HB2420)

Introduced By

Del. Terry Kilgore (R-Gate City)

Progress

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

Description

Retirement; benefits for certain state and local public safety officers. Makes several changes to the benefits of state and local public safety officers and the funding of such benefits. Deputy sheriffs. All deputy sheriffs would become members of the Law Enforcement Officers' Retirement System (LEOs). State police officers. State police officers would receive a 2.0% average final compensation retirement multiplier and would continue to receive the additional annual supplement. Persons provided LEOs retirement coverage, including deputy sheriffs. Any member of LEOs would receive a 1.7% average final compensation retirement multiplier and the additional annual supplement. However, the multiplier for sheriffs would be increased from 1.7% to 2.0%, and an employer may elect to increase the multiplier to 2.0% for other classes of covered employees. The employer is responsible for paying the actuarial cost of the increase. Other provisions of the bill. Beginning July 1, 2007, the Compensation Board would reimburse 100% of each county's or city's employer contribution to the Virginia Retirement System for state-responsible deputy sheriffs. However, the reimbursement would be based upon the salaries of such state-responsible deputy sheriffs as fixed by the Board. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/09/2007Committee
01/09/2007Prefiled and ordered printed; offered 01/10/07 075847372
01/09/2007Referred to Committee on Appropriations
01/16/2007Assigned App. sub: Compensation and Retirement (Putney)
01/19/2007Impact statement from VRS (HB2420)

Duplicate Bills

The following bills are identical to this one: SB1166.