2012 Special Session I

Budget Amendments - HB1301 (Conference Report)

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Local Trusts Pursuant to OPEBS (language only)

Item 268 #4c

Item 268 #4c

Accounts Transfer Payments, Department of

Page 191, after line 35, insert:
“G.  Any locality that has established a trust, trusts, or equivalent arrangements for the purpose of accumulating and investing assets to fund postemployment benefits other than pensions under Virginia Code § 15.2-1544 may make its contributions to the Line of Duty Act Fund from the assets of the trust, trusts, or equivalent arrangements.”

(This amendment allows localities that have establish trusts to fund OPEB benefits to use these trusts to fund payments for the Line of Duty Benefit which is an OPEB benefit.)