RETIREMENT AND OTHER BENEFITS
Failed Legislation
Failed legislation
HOUSE BILL 286
Virginia Retirement System benefits.
Patron: Thomas M. Jackson, Jr.
Summary: Requires that the monthly service retirement allowance
payable to teachers who retired with unreduced benefits prior
to January 1, 1980, with at least 15 years of service be at least
$800.
HOUSE BILL 317
Retirement; disability.
Patron: William K. Barlow
Summary: Provides an additional disability allowance of $500
per month to any former constitutional officer who is disabled
as a result of a felonious act committed upon him during the
official discharge of his constitutional duties prior to 1970.
SENATE BILL 132
Deferred retirement option program.
Patron: Charles J. Colgan
Summary: Establishes a deferred retirement option program for
state employees, state police officers, local government employees,
teachers, and judges. To participate in the program, members
must be eligible to retire under the Virginia Retirement System,
State Police Officers' Retirement System, Virginia Law Officers'
Retirement System or Judicial Retirement System with unreduced
benefits. The employee continues working during the period of
his participation in the program, not to exceed five years, during
which time an amount equal to the amount of the monthly retirement
benefit that he would have received, if he had retired instead
of enrolling in the program, is deposited monthly in a deferred
retirement option account. The deferred retirement option account
balance, with interest, shall be paid to the participant when
he retires. The bill has a delayed effective date of July 1,
2001.
Further Information
Alan Albert: 757/624-3055 (Norfolk), 804/697-1368 (Richmond)
E-mail: aalbert@maysval.com
Anne Leigh Kerr: 804/697-1465
E-mail: alkerr@maysval.com
(c) 2000 Virginia Association of Local Elected Constitutional
Officers.
This report may not be reproduced in whole or in part without
the written permission of the copyright holder.
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