Direct Aid to Public Education (197)
| Request Title | Reduce unfunded liabilities of the Teacher Retirement Plan |
| Biennium | 2024-2026 |
| Budget Round | Initial Bill |
| Category | Other spending or initiatives |
| Region | None |
Description
|
Provides funding for a one-time payment of $350 million to address unfunded liabilities of the Virginia Retirement System public school teacher plan. Includes $115 million general fund and $235 million from the Literary Fund. |
Funding Summary
| Object Type | FY 2024 | FY 2025 | |
| General Fund Dollars | $115,000,000 | $0 | |
| Nongeneral Fund Dollars | $235,000,000 | $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 |
Funding Details
| By Program | Program Code | Program Title | FY 2024 | FY 2025 |
| 178 | State Education Assistance Programs | $350,000,000 | $0 | |
| By Fund | Fund Code | Fund Title | FY 2024 | FY 2025 |
| 01000 | General Fund | $115,000,000 | $0 | |
| 07020 | Literary Fund | $235,000,000 | $0 |
Authorized Position Details
| By Program | Program Code | Program Title | FY 2024 | FY 2025 |
p3_opview - Official Enacted Budget View Operating Bullet Details - 11-02-2025 15:27:09
