1999 Session

Budget Amendments - HB1450 (Member Request)

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Chief Patron: Morgan
VRS Long Term Care Insurance

Item 567 #3h

Item 567 #3h

First Year - FY1999 Second Year - FY2000
Independent Agencies
Virginia Retirement System FY1999 $0 FY2000 $150,000 NGF

Page 446, line 6, strike "$13,725,351" and insert "$13,875,351".
Page 446, after line 25, insert:
"C. The Virginia Retirement System shall design and implement a long-term care insurance program for state and local employees, VRS beneficiaries, and their families.  Once established, the program shall be self-funded through premiums paid by participants.  The Virginia Retirement System is hereby authorized to hire a consultant for a sum not to exceed $150,000 to assist in the design and implementation of this program."

(This amendment provides additional nongeneral fund appropriations to the Virginia Retirement System, with a directive that they study and implement a long-term care insurance program.)