2002 Session

Budget Amendments - SB30 (Conference Report)

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Retirement Benefits (language only)

Item 527 #11c

Item 527 #11c

Independent Agencies
Virginia Retirement System

Page 381, after line 10, insert:
"H.  Subject to the approval of the Joint Rules Committee, any current employee of the legislative branch with 15 or more years of full-time or part-time service, and employed on a full-time or part-time basis with the legislative branch of government prior to 1983, shall be entitled to a compilation of part-time service to be counted towards that person's creditable service in the Virginia Retirement System.  The service credit to be credited to a member for part-time service shall be calculated at the ratio of one month of service credit for each 173 hours of part-time service as certified by the employer.  To qualify for the provision in this item, the member must enter into a contract with the Virginia Retirement System to purchase four years of part-time service under the provisions § 51.1-142.2, Code of Virginia. "

(This amendment allows additional individuals to receive service credit for part-time employment in the legislative branch upon the approval of the Joint Rules Committee.)