Retirement System; average final compensation retirement multiplier. (SB619)

Introduced By

Sen. Ken Stolle (R-Virginia Beach)

Progress

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

Description

Virginia Retirement System; average final compensation retirement multiplier. Allows members of the Virginia Retirement System to make member contributions for purposes of increasing the average final compensation retirement multiplier from 1.7 percent to 1.85 percent. Members would be required to pay the actuarial equivalent cost for such increase. All such contributions would be treated as additional employee contributions. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/09/2008Prefiled and ordered printed; offered 01/09/08 080578328
01/09/2008Referred to Committee on Finance
01/21/2008Impact statement from VRS (SB619)
01/29/2008Continued to 2009 in Finance (16-Y 0-N) (see vote tally)
12/05/2008Left in Finance