Retirement System; average final compensation retirement multiplier for teachers. (SB187)
Introduced By
Sen. Mark Herring (D-Leesburg)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Virginia Retirement System; average final compensation retirement multiplier for teachers. Increases from 1.7 to 2.0 the average final compensation retirement multiplier for teachers with five or more years of creditable service earned as a teacher. The 2.0 multiplier would apply to the total amount of creditable service at the time of retirement, regardless if some portion of the total amount of creditable service relates to other than teaching. The bill applies to current and future retirees. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/07/2008 | Prefiled and ordered printed; offered 01/09/08 084690240 |
01/07/2008 | Referred to Committee on Finance |
01/21/2008 | Impact statement from VRS (SB187) |
02/13/2008 | Left in Finance |
Comments
Loyal state employees need more support during retirement.