Central Appropriations (995)
| Request Title | Adjust funding for OPEB contribution rates |
| Biennium | 2014-2016 |
| Budget Round | Initial Bill |
| Half Sheet Number | 467 #1s |
Description
|
This amendment adjusts the contribution rates that will be charged for Other Post Employment Benefit (OPEB) programs administered by the Virginia Retirement System (VRS). The introduced budget proposed funding these programs at 100% of the VRS Board certified rates beginning in FY 2015, while the VRS Board certified contribution rates for the retirement systems are being phased-in by FY 2019. This amendment funds the OPEBs rates at 90% of the Board certified rates in the 2014-16 biennium to begin a phase-in of the VRS Board rates consistent with the schedule for the retirement plans. |
Funding Details
| By Program | Program Code | Program Title | FY 2014 | FY 2015 |
| 757 | Compensation And Benefit Adjustments | ($7,485,000) | ($7,485,000) | |
| By Fund | Fund Code | Fund Title | FY 2014 | FY 2015 |
| 0100 | General Fund | ($7,485,000) | ($7,485,000) |
Authorized Position Details
| By Program | Program Code | Program Title | FY 2014 | FY 2015 |
p3_opview - Official Enacted Budget View Operating Bullet Details - 06-06-2025 12:38:45
