VA HB1189 | 2010 | Regular Session
Status
Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on April 13 2010 - 100% progression
Action: 2010-04-13 - Governor: Acts of Assembly Chapter text (CHAP0737)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Bipartisan Bill
Status: Passed on April 13 2010 - 100% progression
Action: 2010-04-13 - Governor: Acts of Assembly Chapter text (CHAP0737)
Text: Latest bill text (Chaptered) [HTML]
Summary
Virginia Retirement System; new employees. Modifies for new employees, all the defined benefit retirement plans administered by the Virginia Retirement System ("VRS"), as follows: (i) requires employees to contribute five percent of creditable compensation (only local employers would be allowed to pick up this contribution), (ii) increases the number of months used to calculate average final compensation from 36 to 60, (iii) increases the cost, and decreases the time in which employees may purchase certain prior service credits, and (iv) reduces the portion of the increase in the Consumer Price Index used for determining annual retirement allowance supplements ("COLA") from three percent plus one-half of the next four percent to two percent plus one-half of the next eight percent. The bill also decreases the Commonwealth's contribution for employees in institutions of higher education participating in an optional retirement plans from 10.4 percent to 8.5 percent of creditable compensation. However, institutions of higher education may provide an additional contribution up to 0.4 percent each year at their own cost. New employees of institutions of higher education would also be required to contribute five percent of salary. In addition to these modifications, for new state and local employees covered under the main defined benefit plan, (i.e. excluding the separate plans for state and local law enforcement employees and judges), the bill (a) changes the requirements for unreduced early retirement benefits from 50 years of age and 30 years of creditable service, to one whereby the sum of age plus years of service equals 90 and (b) sets the person's normal retirement date as his normal retirement date for federal social security. (The bill would allow reduced early retirement to be taken only by those persons who have attained the age of 60 with at least five years of creditable service.) Finally, for judges appointed or elected to an original term commencing on or after July 1, 2010, service as a judge would be multiplied by the weighted years of service factor of (i) 1.5 if the person was less than 45 at the time of such original term, (ii) 2.0 if the person was at least 45 but less than 55 at the time of such original term, and (iii) 2.5 if the person was at least 55 at the time of such original term.
Title
Retirement System; modifies for new employees all defined benefit retirement plans.
Sponsors
Roll Calls
2010-03-11 - Senate - Senate: Conference report agreed to by Senate (38-Y 1-N) (Y: 38 N: 1 NV: 1 Abs: 0) [PASS]
2010-03-11 - House - House: VOTE: --- ADOPTION (85-Y 13-N) (Y: 87 N: 13 NV: 2 Abs: 0) [PASS]
2010-03-03 - Senate - Senate: Senate insisted on substitute (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2010-03-01 - House - House: VOTE: --- REJECTED (0-Y 99-N) (Y: 0 N: 101 NV: 0 Abs: 0) [FAIL]
2010-02-25 - Senate - Senate: Passed Senate with substitute (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-25 - Senate - Senate: Committee substitute reconsidered (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-25 - Senate - Senate: Amendment by Senator Whipple reconsidered (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-23 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-21 - Senate - Senate: Reported from Finance with substitute (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-16 - House - House: VOTE: --- PASSAGE (80-Y 19-N) (Y: 82 N: 19 NV: 0 Abs: 0) [PASS]
2010-02-12 - House - House: Reported from Appropriations with substitute (21-Y 0-N) (Y: 21 N: 0 NV: 1 Abs: 0) [PASS]
2010-02-11 - House - House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N) (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2010-03-11 - House - House: VOTE: --- ADOPTION (85-Y 13-N) (Y: 87 N: 13 NV: 2 Abs: 0) [PASS]
2010-03-03 - Senate - Senate: Senate insisted on substitute (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2010-03-01 - House - House: VOTE: --- REJECTED (0-Y 99-N) (Y: 0 N: 101 NV: 0 Abs: 0) [FAIL]
2010-02-25 - Senate - Senate: Passed Senate with substitute (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-25 - Senate - Senate: Committee substitute reconsidered (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-25 - Senate - Senate: Amendment by Senator Whipple reconsidered (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-23 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-21 - Senate - Senate: Reported from Finance with substitute (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-16 - House - House: VOTE: --- PASSAGE (80-Y 19-N) (Y: 82 N: 19 NV: 0 Abs: 0) [PASS]
2010-02-12 - House - House: Reported from Appropriations with substitute (21-Y 0-N) (Y: 21 N: 0 NV: 1 Abs: 0) [PASS]
2010-02-11 - House - House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N) (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2010-04-13 | Governor: Acts of Assembly Chapter text (CHAP0737) | |
2010-04-13 | Governor: Approved by Governor-Chapter 737 (effective 7/1/10) | |
2010-03-25 | Senate: Signed by President | |
2010-03-22 | House: Signed by Speaker | |
2010-03-22 | House: Bill text as passed House and Senate (HB1189ER) | |
2010-03-22 | House: Enrolled | |
2010-03-11 | Senate: Conference report agreed to by Senate (38-Y 1-N) | |
2010-03-11 | House: VOTE: --- ADOPTION (85-Y 13-N) | |
2010-03-11 | House: Conference report agreed to by House (85-Y 13-N) | |
2010-03-11 | House: Conference substitute printed 10106002D-H2 | |
2010-03-03 | House: Delegates: Putney, Jones, Joannou | |
2010-03-03 | House: Conferees appointed by House | |
2010-03-03 | Senate: Senators: Whipple, Watkins, Reynolds | |
2010-03-03 | Senate: Conferees appointed by Senate | |
2010-03-03 | House: House acceded to request | |
2010-03-03 | Senate: Senate requested conference committee | |
2010-03-03 | Senate: Senate insisted on substitute (40-Y 0-N) | |
2010-03-01 | House: VOTE: --- REJECTED (0-Y 99-N) | |
2010-03-01 | House: Senate substitute rejected by House 10105675D-S2 (0-Y 99-N) | |
2010-02-26 | House: Placed on Calendar | |
2010-02-25 | Senate: Passed Senate with substitute (40-Y 0-N) | |
2010-02-25 | Senate: Engrossed by Senate - floor substitute HB1189S2 | |
2010-02-25 | Senate: Substitute by Senator Norment agreed to 10105675D-S2 | |
2010-02-25 | Senate: Reading of substitute waived | |
2010-02-25 | Senate: Floor substitute printed 10105675D-S2 (Norment) | |
2010-02-25 | Senate: Committee substitute rejected 10105501D-S1 | |
2010-02-25 | Senate: Committee substitute reconsidered (40-Y 0-N) | |
2010-02-25 | Senate: Amendment by Senator Whipple rejected | |
2010-02-25 | Senate: Amendment by Senator Whipple reconsidered (40-Y 0-N) | |
2010-02-25 | Senate: Read third time | |
2010-02-24 | Senate: Passed by for the day | |
2010-02-24 | Senate: Amendment by Senator Whipple agreed to | |
2010-02-24 | Senate: Reading of amendment waived | |
2010-02-24 | Senate: Passed by temporarily | |
2010-02-24 | Senate: Committee substitute agreed to 10105501D-S1 | |
2010-02-24 | Senate: Reading of substitute waived | |
2010-02-24 | Senate: Read third time | |
2010-02-23 | Senate: Constitutional reading dispensed (40-Y 0-N) | |
2010-02-21 | Senate: Committee substitute printed 10105501D-S1 | |
2010-02-21 | Senate: Reported from Finance with substitute (15-Y 0-N) | |
2010-02-17 | Senate: Referred to Committee on Finance | |
2010-02-17 | Senate: Constitutional reading dispensed | |
2010-02-16 | House: VOTE: --- PASSAGE (80-Y 19-N) | |
2010-02-16 | House: Read third time and passed House (80-Y 19-N) | |
2010-02-15 | House: Engrossed by House - committee substitute HB1189H1 | |
2010-02-15 | House: Committee substitute agreed to 10104949D-H1 | |
2010-02-15 | House: Read second time | |
2010-02-14 | House: Read first time | |
2010-02-12 | House: Committee substitute printed 10104949D-H1 | |
2010-02-12 | House: Reported from Appropriations with substitute (21-Y 0-N) | |
2010-02-11 | House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N) | |
2010-01-19 | House: Assigned App. sub: Compensation and Retirement | |
2010-01-13 | House: Referred to Committee on Appropriations | |
2010-01-13 | House: Prefiled and ordered printed; offered 01/13/10 10103075D |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
51 | 1 | 124.3 | (n/a) | See Bill Text |
51 | 1 | 126 | (n/a) | See Bill Text |
51 | 1 | 144 | (n/a) | See Bill Text |
51 | 1 | 153 | (n/a) | See Bill Text |
51 | 1 | 155 | (n/a) | See Bill Text |
51 | 1 | 157 | (n/a) | See Bill Text |
51 | 1 | 166 | (n/a) | See Bill Text |