2006 Special Session I

Budget Amendments - HB5002 (Committee Approved)

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Virginia Retirement System (language only)

Item 4-6.03 #1h

Item 4-6.03 #1h

Positions and Employment
Employee Benefits

Page 520, after line 50, insert:
“f.2.  Any member of the Virginia Retirement System in service on July 1, 2006, may by no later than June 30, 2008, purchase prior service credit pursuant to the provisions of § 51.1-142.2 B.1, Code of Virginia, for creditable service at a private institution of higher education if the private institution is merged with a public institution of higher education and graduates of the private institution are then issued new degrees from the public institution.”

(This amendment is self-explanatory.)