2002 Session

Budget Amendments - SB29 (Member Request)

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Chief Patron: Governor Warner
VRS Rate Reductions from NGF Agencies (language only)

Item 3-1.01 #2g

Item 3-1.01 #2g

3: Miscellaneous & Part 4: General Provisions)

Page 527, after line 22, insert:
"FF. Prior to June 30, 2002, the State Comptroller shall transfer from agency nongeneral fund accounts an amount estimated at $9,747,125 for the reduction in retirement contributions resulting from the application of actuarially calculated rates for fiscal year 2002.  Appropriated funds from federal sources are exempt from this transfer."

(This amendment captures the nongeneral fund portion of savings attributed to a reduction in Virginia Retirement System contribution rates.)