2012 Session

Budget Amendments - HB30 (Committee Approved)

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Include Local Plans in VRS Rate of ROR Language (language only)

Item 468 #5h

Item 468 #5h

Central Appropriations
Central Appropriations

Page 354, line 26, after "teachers," insert "employees of political subdivisions,".
Page 354, line 29, after "percent" insert ", a 2.5 percent cost of living adjustment,".

(This amendment include political subdivisions in the paragraph that states the contribution rates paid to the Virginia Retirement System shall be based on an assumed 8% rate of return and a 30 year amortization period. The amendment also clarifies that the rates are to be based on an assumed COLA of 2.5%.)