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2001 Session

Budget Amendments - HB1600 (Committee Approved)

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VaLORS Study (language only)

Item 20 #2h

Item 20 #2h

Legislative Department
Joint Legislative Audit and Review Commission

Language
Page 19, after line 45, insert:
"L.  The Joint Legislative Audit and Review Commission shall review the possible expansion of the Virginia Law Officers' Retirement System (VaLORS) to groups beyond those initially included under §51.1-212 of the Code of Virginia.  The review shall assess the comparability of potentially eligible groups and prepare an estimate of the fiscal impact of extending VaLORS coverage to each of the groups.  In conducting its review, the Commission shall consider comparable programs in states with similar systems.  The Commission shall prepare an interim report for the 2002 Session and shall complete its work and submit its findings no later than the 2003 Session of the General Assembly."


Explanation
(This amendment requires the Joint Legislative Audit and Review Commission to review the expansion of VaLORS to employee groups beyond those initially included in the retirement program.)