Virginia Retirement System (158)
| Request Title | Streamline the process to purchase prior year service |
| Biennium | 2014-2016 |
| Budget Round | Amended Bill |
| Half Sheet Number | 484#1c |
Description
|
This amendment provides $552,500 from the nongeneral fund in administrative funding for the VRS to implement the provisions of House Bill 1890 and Senate Bill 942 of the 2015 General Assembly session which streamlines the purchase of prior year service. Long run savings from the streamlining is expected to be substantially more than the $552,500 up front cost. |
Funding Details
| By Program | Program Code | Program Title | FY 2014 | FY 2015 |
| 799 | Administrative And Support Services | $0 | $552,500 | |
| By Fund | Fund Code | Fund Title | FY 2014 | FY 2015 |
| 0718 | Vrs Administrative Expense Fund | $0 | $552,500 |
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 13:43:12
