Retirement system; increases retirement multiplier for hazardous duty service performed by officers. (SB875)

Introduced By

Sen. Ryan McDougle (R-Mechanicsville)

Progress

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

Description

Retirement multiplier for public safety officers. Increases the retirement multiplier for hazardous duty service performed by public safety officers by 0.025% for each full year over age 50 at the time of the member's retirement and by an additional 0.025% for each full year of creditable service in excess of 25 years at the time of the member's retirement. The retirement multiplier would be capped at 2.2%. Amends § 51.1-206, § 51.1-217, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/08/2007Prefiled and ordered printed; offered 01/10/07 077455766
01/08/2007Referred to Committee on Finance
01/18/2007Impact statement from VRS (SB875)