Virginia Retirement System; service retirement allowance for certain judges.
Virginia Retirement System; increased retirementallowance for certain judges. Increases, for the purposes of determining benefits provided under the Judicial Retirement System,the retirement multiplier from 1.0 percent to 1.7 percent. The increasewould apply only to judges who are participants in the hybrid retirementprogram and who are at least age 55 at the time of appointment. Thebill provides that such changes apply only to service earned as ajudge on or after July 1, 2025. The bill has a delayed effective date of July 1, 2025.
Passed Feb 21, 2024
0 co-sponsors