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Pensions, Benefits and Retirement

Passed

P HB26

Virginia Retirement System; employer payment of member contributions. Increases from three years to six years (or for such other period of time as approved by VRS upon request) the period of time within which employers choosing to pay a portion of members' contributions must begin paying the entire amount of members' contributions.
Patron - Callahan

P HB71

Virginia Retirement System; deferred compensation plan and cash match plan. Makes numerous technical amendments to the Government Employees' Deferred Compensation Plan and creates a new, separate chapter for state and local cash match plans.
Patron - Putney

P HB80

Virginia Retirement System; payment of life insurance and retirement benefits. Makes technical changes to the life insurance and retirement programs administered by the Virginia Retirement System.
Patron - Tata

P HB197

Virginia Sickness and Disability Program. Enrolls certain state employees into the Virginia Sickness and Disability Program (VSDP) unless such employees opt not to be enrolled. Members of the Virginia Retirement System, the State Police Officers' Retirement System, the Virginia Law Officers' Retirement System, certain part-time employees of the Commonwealth, and employees of higher education participating in the Retirement System, who are not already participating in the program, will be automatically enrolled into the VSDP unless such persons provide written notice to VRS of their decision not to participate. In general, the opt-out period will run from October 1, 2002, through December 31, 2002, and VSDP coverage will be effective January 10, 2003. Employees of higher education commencing employment on or after October 1, 2002, who are employed in a faculty position performing teaching, research or administrative duties, who elect to participate in VRS for their pension plan, have 60 days to elect participation VSDP or the institution's sickness and disability program beginning with their first date of employment. Any person enrolled into the VSDP will have his sick leave balances converted to disability credits at the rate of one hour of disability credit for each hour of sick leave. The bill only applies to employees who currently are not participating in the VSDP; the bill does not affect employees who previously elected to enroll in the VSDP or who were enrolled by effect of law. The bill also authorizes VRS to provide a long-term care insurance program for members of the VSDP.
Patron - Callahan

P HB578

Virginia Retirement System; partial lump-sum payment option. Provides that lump-sum distributions of retirement benefits, elected by certain eligible retirees under VRS, shall be paid without regard to limitations on the annual benefit amount that can be received under VRS. The bill also provides that no member of VRS may make an election for a lump-sum distribution more than once in his lifetime.
Patron - May

P HB1137

Retirement; teachers. Changes the conditions under which retired teachers are permitted to return to teaching without interrupting their retirement benefits by (i) permitting such even if the retiree is receiving retirement benefits from an early retirement incentive program, (ii) specifying that such retirees must have been receiving retirement benefits for a period of at least 30 days before returning to a teaching position, and (iii) requiring that the teacher be hired pursuant to a contract that does not exceed one year in duration. Current law (a) prohibits such continuation of retirement benefits if any portion of the retirement benefits is based on an early retirement incentive program, (b) directs the Joint Legislative and Audit Review Commission and the Board of Trustees of the Virginia Retirement System to determine the period of time for eligibility that a retiree must have received retirement benefits before returning to teach; and (c) does not specify the duration of the teacher's contract. The provisions of the bill are made subject to the receipt of a written ruling from the Internal Revenue Service that affirmatively states that the provisions of the bill will not in any way adversely affect the qualified plan status of the Virginia Retirement System under federal law.
Patron - Dillard

P HB1320

Retirement; teachers. Changes the conditions under which retired teachers are permitted to return to teaching without interrupting their retirement benefits by (i) permitting such even if the retiree is receiving retirement benefits from an early retirement incentive program, (ii) specifying that such retirees must have been receiving retirement benefits for a period of at least 30 days before returning to a teaching position, and (iii) requiring that the teacher be hired pursuant to a contract that does not exceed one year in duration. Current law (a) prohibits such continuation of retirement benefits if any portion of the retirement benefits is based on an early retirement incentive program, (b) directs the Joint Legislative and Audit Review Commission and the Board of Trustees of the Virginia Retirement System to determine the period of time for eligibility that a retiree must have received retirement benefits before returning to teach; and (c) does not specify the duration of the teacher's contract. The provisions of the bill are made subject to the receipt of a written ruling from the Internal Revenue Service that affirmatively states that the provisions of the bill will not in any way adversely affect the qualified plan status of the Virginia Retirement System under federal law.
Patron - Christian

P HB1332

Volunteer Firefighters' and Rescue Squad Workers' Service Award Fund. Makes several changes to the Fund including (i) providing that general fund contributions made on behalf of members shall be distributed based upon the number of years of a member's service as a volunteer rescue squad member or firefighter; (ii) changing from 20 to 10 the years of service required for maximum distributions from the Fund; (iii) changing the cost to purchase prior service from $10 per month for every month purchased to an amount as established by the Volunteer Firefighters' and Rescue Squad Workers' Service Award Fund Board; and (iv) eliminating the requirement that prior eligible service be purchased within 180 days of the date of the establishment of the Fund.
Patron - Bolvin

P SB120

Virginia Sickness and Disability Program. Enrolls certain state employees into the Virginia Sickness and Disability Program (VSDP) unless such employees opt not to be enrolled. Members of the Virginia Retirement System, the State Police Officers' Retirement System, the Virginia Law Officers' Retirement System, certain part-time employees of the Commonwealth, and employees of higher education participating in the Retirement System, who are not already participating in the program, will be automatically enrolled into the VSDP unless such persons provide written notice to VRS of their decision not to participate. In general, the opt-out period will run from October 1, 2002, through December 31, 2002, and VSDP coverage will be effective January 10, 2003. Employees of higher education commencing employment on or after October 1, 2002, who are employed in a faculty position performing teaching, research or administrative duties, who elect to participate in VRS for their pension plan, have 60 days to elect participation VSDP or the institution's sickness and disability program beginning with their first date of employment. Any person enrolled into the VSDP will have his sick leave balances converted to disability credits at the rate of one hour of disability credit for each hour of sick leave. The bill only applies to employees who currently are not participating in the VSDP; the bill does not affect employees who previously elected to enroll in the VSDP or who were enrolled by effect of law. The bill also authorizes VRS to provide a long-term care insurance program for members of the VSDP.
Patron - Stosch

P SB121

Pensions; Virginia Retirement System. Makes technical changes to the retirement plans administered by the Virginia Retirement System to comply with federal tax and pension laws.
Patron - Stosch

P SB176

Retirement; defined contribution plan. Eliminates (i) the requirement that withdrawals from the plan must be made within 90 days of termination by participating political appointees and (ii) the requirement that newly hired school superintendents must make their elections to participate in the plan within 30 days of being hired.
Patron - Miller, K.G.

P SB565

Virginia Retirement System; retirement benefits for law-enforcement employees. Clarifies (i) that the enhanced retirement benefits for a law-enforcement employee are available only after the employee has earned five or more years of creditable service in a law-enforcement position and (ii) that a retired law-enforcement officer cannot return to work as a law-enforcement officer and then choose to retire with different retirement benefits, unless he returns to work for at least five years. The bill also conforms the death in service benefits for local law-enforcement and fire employees with those provided to state law-enforcement employees.
Patron - Stolle

Failed

F HB682

Virginia Retirement System; purchase of service credit. Permits any member in service who (i) is involuntarily terminated from his job with a county for any reason other than for his own conduct, (ii) is within five years of being eligible for an unreduced service retirement allowance at the time of such termination, and (iii) at the time of such termination, is employed by a county that has suffered job losses of 10 percent or more due to federal trade policies since 1993, to purchase up to five years of creditable service at the rate of five percent of his creditable compensation or five percent of his average final compensation, whichever is greater, for each year purchased.
Patron - Hurt

F HB873

State Police Officers' Retirement System. Increases from 1.70 to two, at the election of the member, the percentage of average final compensation that is multiplied by the amount of creditable service in determining the amount of the retirement allowance for certain members of the State Police Officers' Retirement System. Any member who elects the higher percentage becomes ineligible to receive the supplemental allowance now provided from the date of his retirement until his retirement age as defined under the Social Security Act.
Patron - Phillips

F HB1046

Disability benefits; firefighters. Requires localities to provide cost of living adjustments to firefighters' disability allowances.
Patron - Darner

F HB1111

Deferred retirement option program. Establishes a deferred retirement option program for teachers eligible to retire under VRS with unreduced benefits. Under the program, a teacher will continue working during the period of his participation in the program, not to exceed five years, during which time a percentage of the amount of the monthly retirement benefits that he would have received if he had retired instead of enrolling in the program is deposited in an account. The percentage, determined at an amount that ensures that the program does not affect employer contribution rates, shall not exceed 100 percent. The account balance, with interest, shall be paid to a participating teacher when he retires. This is an optional program.
Patron - Christian

F SB80

Virginia Law Officers' Retirement System; deputy sheriffs. Makes deputy sheriffs members of the Virginia Law Officers' Retirement System under certain conditions, including the election of such by the respective sheriff. Funding for such membership shall be provided by the Compensation Board.
Patron - Wampler

F SB491

Virginia Law Officers' Retirement System (VaLORS); membership. Adds as members in VaLORS probation and parole officers of the Department of Juvenile Justice and security or investigative officers of the State Lottery Department.
Patron - Newman

Carried Over

C HB141

Virginia Law Officers' Retirement System; membership. Expands membership in the Virginia Law Officers' Retirement System to include sworn members of the enforcement division of the Department of Motor Vehicles.
Patron - Abbitt

C HB221

Virginia Law Officers' Retirement System; deputy sheriffs. Expands the definition of "employee" to include deputy sheriffs, making such individuals members of the Virginia Law Officers' Retirement System.
Patron - Carrico

C HB241

Disability benefits; state employees. Excludes military disability benefits from offsetting the amount of disability benefits due state employees.
Patron - Cox

C HB321

Virginia Retirement System. Increases the retirement allowance for all state and local members of the Virginia Retirement System by increasing the percentage of average final compensation that is multiplied by the amount of creditable service (i) from two percent to 2.5 percent for certain members of the Virginia Law Officers' Retirement System who are not eligible for the supplemental allowance and (ii) from 1.7 percent to two percent for all others.
Patron - Callahan

C HB525

Virginia Law Officers' Retirement System. Increases from two to 2.7, the percentage of average final compensation that is multiplied by the amount of creditable service in determining the amount of the retirement allowance for certain members of the Virginia Law Officers' Retirement System.
Patron - Devolites

C HB526

Retirement benefits; local police departments. Provides that members of local police retirement systems may retire after 25 years of service regardless of age, and provides an additional retirement allowance for each year served in excess of 25 years. Current law permits retirement with 20 years of service and at least 50 years of age, and provides an additional allowance for such individuals for each year in excess of 20 years of service.
Patron - Devolites

C HB690

Deferred compensation plan for government employees. Provides that the Commonwealth shall transfer funds to teachers' deferred compensation accounts in the same amounts and pursuant to the same conditions that such transfers and credits are available at the time for state employees and directs the Virginia Retirement System to work with local school superintendents to develop appropriate procedures.
Patron - Tata

C HB877

Retirement; creditable compensation for teachers. Provides that creditable compensation for teachers may include remuneration for extra duties and remuneration for teaching on a contractual basis during the summer or after normal daytime school hours.
Patron - Phillips

C HB927

Retirement benefits; state and local law-enforcement employees and fire fighters. Provides that the supplemental allowance given to most state and local law-enforcement and fire-fighting employees from the date of retirement until the age of 65 (or the age of retirement for social security purposes) shall continue for the life of such members. The bill also removes the requirement that biennial adjustments to the amount of such supplemental allowance must be based upon increases in Social Security benefits.
Patron - Joannou

C HB928

Virginia Retirement System. Increases the retirement allowance for all state and local members of the Virginia Retirement System by increasing the percentage of average final compensation that is multiplied by the amount of creditable service (i) from two percent to 2.5 percent for certain members of the Virginia Law Officers' Retirement System who are not eligible for the supplemental allowance and (ii) from 1.7 percent to two percent for all others.
Patron - Joannou

C HB946

Virginia Law Officers' Retirement System; deputy sheriffs. Makes deputy sheriffs members of the Virginia Law Officers' Retirement System under certain conditions, including the election of such by the respective sheriff. Funding for such membership shall be provided by the Compensation Board.
Patron - Weatherholtz

C HB950

Virginia Law Officers' Retirement System; Department of Corrections special agents. Expands the definition of "employee" to include special agents of the Department of Corrections, making such individuals members of the Virginia Law Officers' Retirement System.
Patron - Landes

C HB968

Virginia Law Officers' Retirement System; Department of Corrections special agents. Expands the definition of "employee" to include special agents of the Department of Corrections, making such individuals members of the Virginia Law Officers' Retirement System.
Patron - Jones, D.C.

C HB1048

Retirement; teachers. Changes a condition under which retired teachers are permitted to return to teaching without interrupting their retirement benefits specifying that such retirees must have been receiving retirement benefits for a period of at least 30 days before returning to a teaching position. Current law directs the Joint Legislative and Audit Review Commission and the Board of Trustees of the Virginia Retirement System to determine the period of time for eligibility that a retiree must have received retirement benefits before returning to teach.
Patron - Darner

C HB1050

Health insurance credits; retired local school division employees. Provides the health insurance credit currently provided to retired teachers to all local school board employees retired under the Virginia Retirement System.
Patron - Darner

C SB79

Virginia Retirement System. Increases from the average final compensation used in determining the retirement allowance of members of VRS, including members retiring under a disability.
Patron - Wampler

C SB351

Creditable service; purchased by local governments terminating employment positions. Authorizes any locality (i) in which the civilian labor force equals less than 90 percent of the civilian labor force in the locality in 1993, as determined by the Virginia Employment Commission, and (ii) that is participating directly in the Virginia Retirement System ("VRS"), to purchase up to five years of creditable service for any of its employees, concurrently with the termination of the employee's employment by the locality. The bill only applies to employees whose employment position is terminated on or before July 1, 2004. Creditable service may be purchased only for employees whose position is terminated in the implementation of a plan to reduce the locality's workforce. The plan must be filed with the Virginia Employment Commission. For each year of service purchased, the locality shall pay the sum of the member contribution charged pursuant to § 51.1-144 plus the employer contribution charged pursuant to § 51.1-145, both as in effect at the time of purchase. The locality may not rehire the employee until a period of at least two years has expired subsequent to the employee's termination. The provisions of the bill will become effective only if an Internal Revenue Service ruling determines that the qualified plan status of VRS is not adversely affected by the provisions of the bill.
Patron - Reynolds

C SB430

Retirement allowances and benefits; certain employees of the Virginia Department of Transportation. Provides that any employee of the Department of Transportation whose normal duties require him, on a regular basis, to construct, repair or maintain transportation facilities in Virginia shall be eligible to receive the retirement allowances, benefits, and options provided to law-enforcement officers under the Virginia Law Officers' Retirement System.
Patron - Ruff

C SB517

Virginia Retirement System; normal retirement for local police officers. Provides that local police officers who are members of the Virginia Retirement System with 25 or more years of creditable service in VRS may retire with no actuarial reduction in their retirement benefits and shall receive the annual supplement currently being provided to state police officers.
Patron - Norment


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© 2002 by the Division of Legislative Services.

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