Employee Voluntary Accounts Program; created, report. (HB2026)

Introduced By

Del. Danny Marshall (R-Danville) with support from co-patron Del. Bill Janis (R-Glen Allen)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Virginia Employee Voluntary Accounts Program. Creates the Virginia Employee Voluntary Accounts Program. Under the program, private employers with not more than 50 employees that have not offered a payroll savings deduction plan to employees in the preceding year may enroll to offer tax-deferred retirement plans to their employees. The Program will be administered by a board of directors, which is authorized to hire a director and staff, and to retain a financial institution to serve as third-party administrator for the management of the assets of the Program. The Program is not authorized to accept enrollees or funds until a plan of operation for the Program has been approved by the Internal Revenue Service. Read the Bill »


Bill Has Failed


01/13/2009Prefiled and ordered printed; offered 01/14/09 090030612
01/13/2009Referred to Committee on General Laws
01/19/2009Assigned GL sub: Professional/Occupational/Adminstrative Process
01/22/2009Impact statement from DPB (HB2026)
01/27/2009Subcommittee recommends referring to VA Small Business Commission by voice vote
02/10/2009Left in General Laws


Virginia Interfaith Center for Public Policy, tracking this bill in Photosynthesis, notes:

The Virginia Interfaith Center supports this bill.