2001 Session

Budget Amendments - HB1600 (Committee Approved)

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Strike Language on VRS for ORP (language only)

Item 547 #1h

Item 547 #1h

Central Appropriations
Central Appropriations

Page 481, line 25, strike "equal to the current Virginia" and insert:
"9.24 percent.  By September 1, 2001, the Secretary of Administration shall examine the contribution rate to such programs and, if necessary, recommend a revision to the rate."
Page 481, strike lines 26 and 27.

(This amendment sets the contribution rate for participants in optional retirement programs at 9.24 percent and strikes language that would make the rate equal to the Virginia Retirement System Board of Trustees certified rate for full-time state employees. It also directs the Secretary of Administration to examine the current rate and, if necessary, recommend a revision to the rate.)