Hybrid retirement program; local deferred compensation and cash match plans. (HB877)

Introduced By

Del. Chris Jones (R-Suffolk)

Progress

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

Description

Hybrid retirement program; local deferred compensation and cash match plans. Allows political subdivisions the option of establishing and administering their own deferred compensation and cash match plans for all retirement programs if they elect not to participate in the plan administered by the Board of Trustees of the Virginia Retirement System for the hybrid retirement program. The bill also states that employees and state or local entities are not liable for loss. Amends § 51.1-169, § 51.1-600, § 51.1-603, § 51.1-603.1, § 51.1-607, § 51.1-610, § 51.1-611, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/08/2014Committee
01/08/2014Prefiled and ordered printed; offered 01/08/14 14103476D
01/08/2014Referred to Committee on Appropriations
01/27/2014Assigned App. sub: Compensation and Retirement
02/03/2014Impact statement from VRS (HB877)
02/06/2014Subcommittee recommends reporting with amendment(s) (6-Y 0-N)
02/07/2014Reported from Appropriations with substitute (21-Y 0-N) (see vote tally)
02/07/2014Committee substitute printed 14104882D-H1
02/08/2014Read first time
02/10/2014Read second time
02/10/2014Committee substitute agreed to 14104882D-H1
02/10/2014Engrossed by House - committee substitute HB877H1
02/11/2014Read third time and passed House (97-Y 2-N)
02/11/2014VOTE: PASSAGE (97-Y 2-N) (see vote tally)
02/12/2014Constitutional reading dispensed
02/12/2014Referred to Committee on Finance
02/14/2014Impact statement from VRS (HB877H1)
02/26/2014Continued to 2015 in Finance (13-Y 4-N) (see vote tally)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 2 minutes.