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2025 Session

Budget Amendments - SB800 (Member Request)

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Chief Patron: Perry
Judicial Pensions (SB 950)

Item 484 #4s

Item 484 #4s

First Year - FY2025 Second Year - FY2026
Independent Agencies
Virginia Retirement System FY2025 $0 FY2026 $88,000 NGF

Language
Page 599, line 5, strike "$22,961,363" and insert "$23,049,363".


Explanation

(This amendment provides $88,000 the second year from nongeneral funds for the fiscal impact of Senate Bill 950, which directs the Virginia Retirement System (VRS) to calculate the service retirement allowance for judges appointed or elected after July 1, 2025, and over the age of 55 at the time of their appointment or election under the provisions of VRS that were in effect prior to January 1, 2013.)