2015 Session

Budget Amendments - HB1400 (Member Request)

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Chief Patron: Ingram
Minimum Life Ins. Benefit for Retirees

Item 467 #1h

Item 467 #1h

First Year - FY2015 Second Year - FY2016
Central Appropriations
Central Appropriations FY2015 $0 FY2016 $170,000 GF

Page 427, line 40, strike "$111,816,543" and insert "$111,986,543".
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 $170,000 the second year for direct payments to the group life insurance program to reflect the impact from the enactment of legislation during 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 $170,000 from the general fund in fiscal year 2016 to reflect the impact of the passage during the 2015 General Assembly session of legislation which sets a minimum life insurance benefit for retirees who have more than 30 years of VRS service.)