2003 Session

Budget Amendments - SB700 (Member Request)

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Chief Patron: Stolle
Survivor Retirement Option (language only)

Item 4-6.03 #2s

Item 4-6.03 #2s

Positions and Employment
Employee Benefits

Page 607, following line 40, insert:
"Not withstanding the provisions of Chapter 3 of Title 51.1 of the Code of Virginia, joint and survivor factor for any "grandfathered"  member whose age at retirement exceeds the normal life expectancy under the plan shall not result in more than a 20% reduction in benefit at retirement."

(This amendment is self explanatory.)