Retirement System; calculation of pension fund liabilities & assumed rate of return on investments. (HB1657)

Introduced By

Del. Bob Purkey (R-Virginia Beach)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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 »


Bill Has Failed


01/10/2011Prefiled and ordered printed; offered 01/12/11 11101725D
01/10/2011Referred to Committee on Appropriations
01/13/2011Assigned App. sub: Compensation and Retirement
01/25/2011Impact statement from VRS (HB1657)
02/01/2011Subcommittee recommends laying on the table
02/08/2011Left in Appropriations