Retirement System; calculation of pension fund liabilities & assumed rate of return on investments. (HB1657)
Introduced By
Del. Bob Purkey (R-Virginia Beach)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Virginia Retirement System. Requires that the Virginia Retirement System (i) adjust annually its calculation of pension fund liabilities and obligations by the rate of interest on 10-year U.S. Treasury notes and (ii) assume a rate of return on its investments no greater than the rate of interest on such notes. The bill shall expire whenever the funding level for the Virginia Retirement System is at least 90 percent of actuarial attested premium obligations and liabilities for three consecutive years. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/10/2011 | Committee |
01/10/2011 | Prefiled and ordered printed; offered 01/12/11 11101725D |
01/10/2011 | Referred to Committee on Appropriations |
01/13/2011 | Assigned App. sub: Compensation and Retirement |
01/25/2011 | Impact statement from VRS (HB1657) |
02/01/2011 | Subcommittee recommends laying on the table |
02/08/2011 | Left in Appropriations |