HB 1969 - Develop Cash Balance Plan

Item 484 #3c

Language
Page 463, line 31, strike "$28,759,424" and insert "$28,809,424".

Explanation
(This amendment provides $50,000 from the nongeneral fund in administrative funding for the VRS to implement the provisions of House Bill 1969 of the 2015 General Assembly session which requires the VRS to review cash balance retirement plans in place in other states and compare it to the current hybrid plan. The $50,000 is needed to fund actuarial costs that will be incurred in the review.)