2024 Session

Budget Amendments - SB30 (Floor Approved)

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Virginia Retirement System Implementation Costs

Item 484 #1s

Item 484 #1s

First Year - FY2025 Second Year - FY2026
Independent Agencies
Virginia Retirement System FY2025 $203,000 FY2026 $0 NGF

Page 530, line 2, strike "$23,111,353" and insert "$23,314,353".

Page 531, after line 21, insert:

"I. The Virginia Retirement System is authorized to charge an administrative fee to any private nonprofit institution of higher education or private police department that elects to participate in the Line of Duty Act."


(This amendment provides $203,000 the first year from nongeneral funds for the implementation of legislation that passed the Senate. It also includes language to allow a fee for the costs incurred by the Virginia Retirement System through an expansion of eligibility for participation in the Line of Duty Act to any private campus police department or private police department.)