2013 Session

Budget Amendments - SB800 (Committee Approved)

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VRS Salary Supplement (language only)

Item 4-6.01 #2s

Item 4-6.01 #2s

Positions and Employment
Employee Compensation

Page 524, after line 14, insert:
"5. Notwithstanding any provision of this Act, the Board of Trustees of the Virginia Retirement System may supplement the salary of its director, with the prior approval of the Governor.  The Board should be guided by criteria, which provide a reasonable limit on the total additional income of the Director. The criteria should include, without limitation, a consideration of the salaries paid to similar officials in comparable public pension plans.  The Boards shall report approved supplements to the Department of Human Resource Management for retention in its records."
Page 524, line 15, strike "5" and insert "6".
Page 524, line 23, strike "6.a)" and insert "7.a)".

(This amendment provides the Virginia Retirement System (VRS) Board of Trustees, with the approval of the Governor, the ability to provide a salary supplement to the VRS Director.)