Hybrid retirement program; local deferred compensation and cash match plans. (SB422)

Introduced By

Sen. John Watkins (R-Midlothian)

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
01/07/2014Prefiled and ordered printed; offered 01/08/14 14103389D
01/07/2014Referred to Committee on Finance
02/03/2014Impact statement from VRS (SB422)
02/05/2014Reported from Finance with substitute (15-Y 2-N) (see vote tally)
02/05/2014Committee substitute printed 14104769D-S1
02/06/2014Constitutional reading dispensed (40-Y 0-N)
02/07/2014Read second time
02/07/2014Reading of substitute waived
02/07/2014Committee substitute agreed to 14104769D-S1
02/07/2014Engrossed by Senate - committee substitute SB422S1
02/10/2014Passed by for the day
02/11/2014Continued to 2015 session pursuant to rule 20g
02/11/2014Left in Finance
02/11/2014Previous question, not ordered (18-Y 22-N)
02/11/2014Motion to recommit to committee agreed to (22-Y 18-N)
02/11/2014Recommitted to Finance
02/11/2014Pursuant to Senate Rule 20g
02/11/2014Continued to 2015 in Finance

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 4 minutes.