2015 Session

Budget Amendments - HB1400 (Committee Approved)

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HB 1890 - VRS Streamline Purchase of Service

Item 484 #1h

Item 484 #1h

First Year - FY2015 Second Year - FY2016
Independent Agencies
Virginia Retirement System FY2015 $0 FY2016 $552,500 NGF

Page 463, line 31, strike "$28,759,424" and insert "$29,311,924".

(This amendment provides $552,500 from the nongeneral fund in administrative funding for the VRS to implement the provisions of House Bill 1890 of the 2015 General Assembly session which streamlines the purchase of prior year service. Long run savings from the streamlining is expected to be substantially more than the $552,500 up front cost.)