Summary as introduced:
Virginia Retirement System. Increases the retirement allowance for all state and local members of the Virginia Retirement System by gradually increasing, over a 6-year period, the percentage of average final compensation that is multiplied by the amount of creditable service (i) from 2 percent to 2.3 percent for certain members of the Virginia Law Officers' Retirement System who are not eligible for the supplemental allowance and (ii) from 1.7 percent to 2 percent for all others. The bill also gradually increases, over a 6-year period, the monthly retirement allowance paid to members of the Virginia Retirement System who retired prior to July 1, 2003, by 3 percent.
01/08/03 Senate: Presented & ordered printed, prefiled 12/18/02 038998556 pdf | impact statement
01/08/03 Senate: Presented & ordered printed, prefiled 12/18/02 038998556
01/08/03 Senate: Referred to Committee on Finance
01/28/03 Senate: Passed by indefinitely in Finance (12-Y 1-N)