Summary as introduced:
Virginia Retirement System; average final compensation. Indexes the average final compensation of state and local employees who are members of the Virginia Retirement System, the State Police Officers' Retirement System, the Judicial Retirement System, and the Virginia Law Officers' Retirement System. Average final compensation is increased only for those members who retired between December 1, 2001, and November 30, 2002, or those members in continuous service since July 1, 2002.
Average final compensation is increased by a factor between 1.01011 and 1.10366 depending upon when the employee retired or retires and whether or not the Commonwealth or a locality participating in the Virginia Retirement System provided a general salary increase between December 1, 2001, and November 30, 2004.Full text:
01/08/03 Senate: Presented & ordered printed, prefiled 01/07/03 039047556 pdf | impact statement
01/08/03 Senate: Presented & ordered printed, prefiled 01/07/03 039047556
01/08/03 Senate: Referred to Committee on Finance
01/28/03 Senate: Passed by indefinitely in Finance (12-Y 1-N)