Virginia Retirement System (158)
| Request Title | Implement optional 403(b) retirement option for local teachers |
| Biennium | 2014-2016 |
| Budget Round | Amended Bill |
| Half Sheet Number | 484#2c |
Description
|
This amendment provides $440,000 from the nongeneral fund in administrative funding for the VRS to implement the provisions of House Bill 2178 and Senate Bill 1162 of the 2015 General Assembly session which gives school boards the option of allowing their teachers the choice of participating in the 403(B) private retirement fund as an alternative to the optional DC contribution for the hybrid retirement plan. |
Funding Details
| By Program | Program Code | Program Title | FY 2014 | FY 2015 |
| 799 | Administrative And Support Services | $0 | $440,000 | |
| By Fund | Fund Code | Fund Title | FY 2014 | FY 2015 |
| 0718 | Vrs Administrative Expense Fund | $0 | $440,000 |
Authorized Position Details
| By Program | Program Code | Program Title | FY 2014 | FY 2015 |
p3_opview - Official Enacted Budget View Operating Bullet Details - 06-07-2025 13:11:49
