2015 Session

Budget Amendments - HB1400 (Committee Approved)

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HB 2277 - Minimum Life Insurance Benefit-Retirees

Item 467 #1h

Item 467 #1h

First Year - FY2015 Second Year - FY2016
Central Appropriations
Central Appropriations FY2015 $0 FY2016 $171,000 GF

Page 427, line 40, strike "$111,816,543" and insert "$111,987,543".
Page 431, after line 24, insert:
"7.  In addition to the funding included in subparagraph 3. above, included in the general fund appropriation for this item is included $171,000 the second year for direct payments to the group life insurance program to reflect the impact from the enactment of House Bill 2277 of the 2015 General Assembly Session which established a minimum benefit for retirees who had more than 30 years of creditable service at the time of their retirement."

(This amendment provides $171,000 from the general fund in fiscal year 2016 to reflect the impact of the passage of House Bill 2277 of the 2015 General Assembly session which sets a minimum life insurance benefit for retirees who have more than 30 years of VRS service.)