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2019 Session

Budget Amendments - SB1100 (Member Request)

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Chief Patron: Ruff
VRS - Vol. Firefighers & Rescue Squad Workers Fund

Item 486 #2s

Item 486 #2s

First Year - FY2019 Second Year - FY2020
Independent Agencies
Virginia Retirement System FY2019 $0 FY2020 $246,000 GF

Language
Page 510, line 34, strike "$17,625,718" and insert "$17,871,718".

Page 511, line 4, strike "$80,000" and insert "$326,000".

Page 511, after line 11, insert:


"3. Out of the amounts set out in this Item for the Volunteer Firefighters' and Rescue Squad Workers' Service Award Fund, up to $216,000 from the general fund the second year is available to provide a state match to individual contributions to the Fund, at a rate of one hundred percent not to exceed $120 annually per individual. The Virginia Retirement System may administer the program in a manner to minimize any increase in the cost of administering the program.".



Explanation

(This amendment provides $216,00 GF to provide a state match for individuals who elect to participate in the Volunteer Firefighters' and Rescue Squad Workers' Service Award Fund at a rate of 100% up to $120 per person. In addition, the amendment provides $30,000 general fund in additional funding to support an increase in administrative cost due to the state match.)