2002 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Putney
Purchase of VRS Service (language only)

Item 527 #4h

Item 527 #4h

Independent Agencies
Virginia Retirement System

Page 381, after line 10, insert:
“H. Any member of the Virginia Retirement System who is retired under the provisions of § 51.1-155.1 of the Code of Virginia who: 1) returns to work in a position that is covered by the provisions of § 51.1-155.1 of the Code of Virginia after a break of not less than four years, 2) receives no other compensation for service to a public employer than that provided for the position covered by § 51.1-155.1 of the Code of Virginia during such period of reemployment, and 3) was continually employed in less than a full time status in a non-VRS covered position at a state-supported Virginia higher education institution shall be eligible to purchase up to four years of service performed at the Virginia higher education institution at five percent of salary under the provisions of §
51.1-142.2 of the Code of Virginia subject to the provision that no retirement or annuity plans were part of the compensation package provided by the Virginia higher education institution."

(This amendment is self-explanatory.)