484#2h (VRS) HB 2178 - 403 (B) Plans. HB1400

State Budget

2015 Session

Budget Amendments - HB1400 (Committee Approved)

Bill Order » Item 484 #2h

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HB 2178 - 403 (B) Plans

Item 484 #2h

Item 484 #2h	First Year - FY2015	Second Year - FY2016
Independent Agencies
Virginia Retirement System	FY2015 $0	FY2016 $440,000	NGF

Language
Page 463, line 31, strike "$28,759,424" and insert "$29,199,424".

Explanation
(This amendment provides $440,000 from the nongeneral fund in administrative funding for the VRS to implement the provisions of House Bill 2178 of the 2015 General Assembly session which gives school boards the option of allowing their teachers the choice of participating in the 403(B) private retirement fund as an alternative to the optional DC contribution for the hybrid retirement plan.)

Item 484

Item 484	First Year - FY2015	Second Year - FY2016
Administrative and Support Services (79900)	$29,120,424	$28,759,424
General Management and Direction (79901)	FY2015 $15,651,563	FY2016 $15,651,563
Information Technology Services (79902)	FY2015 $13,468,861	FY2016 $13,107,861
Fund Sources:
Trust and Agency	FY2015 $29,120,424	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

2015 Session

Budget Amendments - HB1400 (Committee Approved)

HB 2178 - 403 (B) Plans

Item 484 #2h

Item 484 #2h

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Item 484