Virginia Retirement System; defined contribution retirement program for state and local employees. (HB2465)

Introduced By

Del. Chris Jones (R-Suffolk)

Progress

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

Description

Virginia Retirement System; defined contribution retirement program for state and local employees.  Creates a defined contribution retirement program for state and local employees hired on or after January 1, 2012, in place of the current defined benefit plan. Employees hired prior to January 1, 2012, may elect to become members of the defined contribution plan in lieu of the current defined benefit plan. Amends § 51.1-1100, § 51.1-138, § 51.1-1400, § 51.1-1403, § 51.1-201, § 51.1-212, § 51.1-301, § 51.1-603.1, § 51.1-611, of the Code of Virginia. Read the Bill »

Status

02/02/2011: Merged into HB2410

History

DateAction
01/20/2011Committee
01/20/2011Presented and ordered printed 11103867D
01/20/2011Referred to Committee on Appropriations
01/24/2011Assigned App. sub: Compensation and Retirement
01/31/2011Impact statement from VRS (HB2465)
02/01/2011Subcommittee recommends no action
02/02/2011Subcommittee recommends incorporating (HB2410-Putney)
02/02/2011Incorporated by Appropriations (HB2410-Putney)

Comments

Rod I., tracking this bill in Photosynthesis, notes:

VB Legislative Agenda item (variation)

Frederick A. Costello writes:

Please pass this bill. When pensions and other benefits are added to salaries, government workers are paid far more than their private-sector counterparts.

Kevin Steinke writes:

Fred Fred Fred,

I will excuse your ignorance. You should know that you cant generalize or categorize everybody. There are state employees making far less than the public sector. To say that EVERYBODY is making a great salary in the public sector is grossly misinformed. janitors, mail clerks etc are not making a great salary.

Now you are probably saying that they should then get another job if they don't like their income. Maybe true. However do you really want all janitors, secretaries etc to leave state jobs. I bet not.

Please don't generalize. Educate yourself before you make the statements that you make.

Kevin Steinke writes:

Re-post

I wrote this just a few min ago. Sorry i didn't proffread but:

I will excuse your ignorance. You should know that you cant generalize or categorize everybody. There are state employees making far less than the PRIVATE sector. To say that EVERYBODY is making a great salary in the public sector is grossly misinformed. janitors, mail clerks etc are not making a great salary.

Now you are probably saying to yourself that they should then get another job if they don't like their income. Maybe true. However do you really want all janitors, secretaries etc to leave state jobs. I bet not.

Please don't generalize. Educate yourself before you make certain statements.

Waldo Jaquith writes:

I work for the state, and I make about 15% less than I'd make in the private sector—benefits included—in my market. Which I'm OK with, because working for the state allows me to do interesting work of public importance.

Frederick A. Costello writes:

Those who work for the government at remuneration rates that are lower than in the private sector should certainly leave the government in favor of the private-sector jobs -- unless they are willingly offering their services at a lower rate, as Waldo is doing and just as volunteers do. My study of salaries compared only employees of Fairfax County to employees in the private sector in the Washington, DC, area (i.e., their other employment opportunities). I would appreciate receiving similar studies, with data and citations, from other areas of Virginia.

Kevin Steinke writes:

Fred

Some people in the public sector enjoy their job. Again, i ask you, do you really want all of the people in the public sector to quick their jobs? You may want to think about this long and hard. Government must hire people in order to run. I have no problem paying my fair share of taxes. I enjoy having nice roads, police and firemen in my neighborhood. I also enjoy having good teachers in my schools. Yes, contrary to what the media reports, there are good teachers in the public school systems. All of this costs money. You must pay people a fair wage to perform these jobs. This is not to say there isn't waste in the government. There is a lot of waste in the government. However, to say that ALL government workers or living the fat life is misinformed.