484#1s (VRS) SB 188 VRS Deferred Comp Roth. SB5003

State Budget

2014 Special Session I

Budget Amendments - SB5003 (Committee Approved)

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SB 188 VRS Deferred Comp Roth

Item 484 #1s

Item 484 #1s	First Year - FY2015	Second Year - FY2016
Independent Agencies
Virginia Retirement System	FY2015 $237,000	FY2016 $0	NGF

Language
Page 417, line 4, strike "$28,883,424" and insert "$29,120,424".

Explanation
(This amendment provides $237,000 the first year for the estimated one-time cost of implementing Senate Bill 188, which authorizes the inclusion of a Roth contribution program in deferred compensation retirement plans for state and local government employees, beginning July 1, 2015. This amendment is contingent upon final passage of Senate Bill 188 by the 2014 General Assembly.)

Item 484

Item 484	First Year - FY2015	Second Year - FY2016
Administrative and Support Services (79900)	$28,883,424	$28,759,424
General Management and Direction (79901)	FY2015 $15,651,563	FY2016 $15,651,563
Information Technology Services (79902)	FY2015 $13,231,861	FY2016 $13,107,861
Fund Sources:
Trust and Agency	FY2015 $28,883,424	FY2016 $28,759,424

Authority: Title 51.1, Chapters 1, 2, 2.1, and 3, Code of Virginia.

Out of the amounts appropriated to this Item, the director is authorized to expend an amount not to exceed $25,000 the first year and $25,000 the second year for expenses commonly borne by business enterprises. Such expenses shall be recorded separately by the agency.

State Budget

2014 Special Session I

Budget Amendments - SB5003 (Committee Approved)

SB 188 VRS Deferred Comp Roth

Item 484 #1s

Item 484 #1s

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Item 484