2015 Session

Budget Amendments - SB800 (Member Request)

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Chief Patron: Ruff
VRS-Life Insurance Floor

Item 467 #5s

Item 467 #5s

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

Page 427, line 40, strike "$111,816,543" and insert "$111,986,543".
Page 463, line 25, before "By September 30" insert "1.".
Page 463, after line 30, insert:
"2. Consistent with Section 51.1-505 B, the amount of life insurance provided to retired employees shall not decrease the final amount of life insurance paid to such retiree or their beneficiaries to less than $8,000 for retired employees with at least 30 years of creditable service, which amount shall be increased by the same percentage as any annual post-retirement supplement for retirees, as calculated for employees hired on or after July 1, 2010, pursuant to Section 51.1-166."

(This amendment is self-explanatory.)