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; school division deferred compensation and cash match plans. Allows school divisions the option of establishing and administering their own deferred compensation and cash match plans if they elect not to participate in those plans administered by the Board of Trustees of the Virginia Retirement System for the hybrid retirement program. This choice would be made on an annual basis. The bill also states that state or local entities are not liable for loss. The bill has a delayed effective date of January 1, 2015. Amends § 51.1-169, § 51.1-603.1, § 51.1-610, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
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)
12/04/2014Left in Finance