2014 Session

Budget Amendments - HB30 (Floor Approved)

View Budget Item
View Budget Item amendments

Exemptions Related to VRS (language only)

Item 4-6.03 #1h

Item 4-6.03 #1h

Positions and Employment
Employee Benefits

Page 494, after line 20, insert:
" k.  Notwithstanding the provisions of subsection G of § 51.1-156, any employee of a school division who completed a period of 24 months of leave of absence without pay during October 2013 and who had previously submitted an application for disability retirement to VRS in 2011 may submit an application for disability retirement under the provisions of § 51.1-156. Such application shall be received by the Virginia Retirement System no later than October 1, 2014.
l. Notwithstanding the provisions of subsection B of § 51.1-155, any person who (i) has attained age 62, (ii) is receiving a service retirement allowance under Chapter 1 of Title 51.1, and (iii) is employed in an otherwise covered position as interim president and chief executive officer of an institution of higher education for a period necessary to rectify significant management deficiencies, may elect to continue to receive the retirement allowance during such employment. If the person elects to continue to receive the retirement allowance, then his service performed and compensation received during the period of time he receives the retirement allowance will not increase, decrease, or affect in any way his retirement benefits before, during, or after such employment."

(This amendment allows an employee to reapply for disability retirement after the deadline for reapplying has passed. There was a discrepancy in the employee’s record relating to employment status. The second paragraph allows an exemption to VRS retirement provisions if an individual is appointed as an interim president of a higher education institution as a result of there being significant management deficiencies.)