Retirement System; locality may increase retirement allowance for its employees. (HB1858)

Introduced By

Del. Steve Shannon (D-Vienna) with support from co-patron Sen. Chap Petersen (D-Fairfax)

Progress

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

Description

Virginia Retirement System; optional increase for political subdivisions. Permits any locality that participates in the Virginia Retirement System to increase the retirement allowance for its employees from 1.70 percent of their average final compensation multiplied by the amount of their creditable service to 1.85 percent of their average final compensation multiplied by the amount of their creditable service.

. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/12/2009Committee
01/12/2009Prefiled and ordered printed; offered 01/14/09 098531724
01/12/2009Referred to Committee on Appropriations
01/19/2009Assigned App. sub: Compensation and Retirement (Jones, S.C.)
01/19/2009Assigned App. sub: Compensation and Retirement (Hogan, Clarke N.)
01/22/2009Impact statement from VRS (HB1858)
02/10/2009Left in Appropriations