Request Title | Adjust funding for changes in other post-employment benefit programs |
Biennium | 2018-2020 |
Budget Round | Initial Bill |
Category | Other spending or initiatives |
Region | None |
Captures the net general fund savings of changes in costs associated with other post-employment benefit programs for state employees and state supported local employees. Funding is provided for the full contribution rates certified by the Virginia Retirement System Board for the state employee sickness and disability, group life insurance, and retiree health insurance credit programs and the state supported employee retire health insurance credit program based on the June 30, 2017, Virginia Retirement System valuation for 2019 and 2020. Amounts include decreased costs of approximately $676,148 the first year and $705,521 the second year for the state employee programs and increased costs of $317,863 each year for state supported local employee programs. |
Object Type | FY 2018 | FY 2019 | |
General Fund Dollars | ($358,285) | ($387,658) | |
Nongeneral Fund Dollars | $0 | $0 | |
General Fund Positions | 0.00 | 0.00 | |
Nongeneral Positions | 0.00 | 0.00 | |
General Fund Transfers | $0 | $0 | |
General Fund Revenue | $0 | $0 | |
Layoffs | $0 | $0 | |
Additions to Balance | $0 | $0 |
By Program | Program Code | Program Title | FY 2018 | FY 2019 |
757 | Compensation And Benefit Adjustments | ($358,285) | ($387,658) | |
By Fund | Fund Code | Fund Title | FY 2018 | FY 2019 |
01000 | General Fund | ($358,285) | ($387,658) |
By Program | Program Code | Program Title | FY 2018 | FY 2019 |