SB 507 — Virginia Retirement System; benefits for certain local law-enforcement employees.

SESSION INTRODUCEDSENATE 22101824DSUBSTITUTE I22105675D SENATE BILL NO.

507 OfferedAMENDMENT JanuaryIN 12,THE 2022NATURE NOF PrefiledA JanuarySUBSTITUTE 12,(Proposed 2022by Tthe Senate Committee on Finance and Appropriations on February 9, 2022) (Patron Prior to Substitute––Senator Lewis) A BSystem;BILL to amend and reenact § 51.1-138 of the Code of Virginia, relating to Virginia Retirement Be it enacted by the General Assembly of Virginia:

benefitsemployees. for certain local law-enforcement employees.relating to Virginia RetirementR –––––––––– Patron––Lewis O –––––––––– D Referred to Committee on Finance and Appropriations –––––––––– U Be it enacted by the General Assembly of Virginia:

C 1.

§ 51.1-138.

Benefits.

Dbenefits B.equivalent to those provided under the State Police Officers' Retirement System, as set out in Chapter 2 (§ 51.1-200 et seq.) of this title except for § 51.1-209, and except that the employer may elect to establish the retirement allowance pursuant to the allowance provided in clause (i) or (ii) in subsection A of § 51.1-206, in lieu of the benefits that would otherwise be provided hereunder for any employees who are employed in (i) law-enforcement positions comparably hazardous to that of a state police officer, including any sworn law-enforcement officer who has the duty and obligation to enforce appointing authority, (ii) positions as full-time salaried fire fighters, (iii) positions as full-time salaried emergency medical technicians, or (iv) positions as regional jail superintendents and jail offiTers of regional jail farms, regional jails or jail authorities, as approved by the respective jail board or authority and by the participating political subdivisions of such entities.

BySheriffs resolutionof legallypolitical adoptedsubdiviEions and approvedsuperintendents byof theregional Board,jails thewhich employerparticipate may elect to provide benefits equivalent to those provided under the State Police Officers' Retirement System, as set out in Chapter 2 (§ 51.1-200 et seq.) of this title except for § 51.1-209, and except that the employer may elect to establish the retirement allowancesystem pursuantshall toreceive the allowance provided in clause (i) or (ii) in subsection A of § 51.1-206, in lieu of the benefits thatequivalent would otherwise be provided hereunder for any employees who are employed in (i) law-enforcement positions comparably hazardous to thatthose of a state thepolice penalofficers, andexcept trafficfor laws of this Commonwealth as directed by his superior officer, if so certified by his appointing authority, (ii) positions as full-time salaried fire fighters, (iii) positions as full-time salaried emergency medical technicians, or (iv) positions as regional jail superintendents and jail officers of regional jail farms, regional jails or jail authorities, as approved by the respectivebenefits jailprovided boardunder or§ authority51.1-209, andregardless by the participating political subdivisions of suchC. entities.

SheriffsEach ofemployer politicalproviding subdivisionsthe andbenefits superintendents of regionalsubsection jailsB whichfor participateits inemployees theprior retirementto systemJuly shall1, receive1990, benefitsmay equivalentelect to thoseprovide offor statethe policeearly officers,retirement exceptof foremployees theas benefitsset providedforth underin §this 51.1-209,subsection regardlessin lieu of whether the employerearly hasretirement electedand todeath providebefore equivalentretirement benefitsprovisions asof setthe outState inPolice thisOfficers' subsection.RetiremenU System.

may elect to provide for the early retirement of employees as set forth in this subsection in lieu of the early retirement and death before retirement provisions of the State Police Officers' Retirement System.

Any member in serviceserviceBon on or after his fifty-fifth birthday with five or more years of creditable service (i) while earning the benefits :et seq.) of this title, or (iii) as a member in the retirement system established by Chapter 2.1 (§ 51.1-211 et seq.) of this title may retire upon written notification to the Board setting forth at what time the 36 retirement is to become effective.

35The permittedeffective bydate thisshall section,be (ii)after ashis alast memberday in the retirement system established by Chapter 2 (§ 51.1-200 36 et seq.) of thisservice title,but orshall (iii)not asbe a member in the retirement system established by Chapter 2.1 (§ 51.1-211 37 etmore seq.)than of90 thisdays titleprior may retire upon written notification to the Boardfiling settingof forthsuch atnotice. what time the 38 retirement is to become effective.

The effectivemember date shall bereceive afteran hisallowance lastthat day of service but shall not38 be be determined in the same manner as for retirement at an employee's normal retirement with creditablelcredTtable 39 service and average final compensation being determined as of the date of his actual retirement.retirementU If the reduced on an actuarial equivalent basis for the period by which the actual retirement date precedes the earlier of (a) the member's normal retirement date or (b) the first date on or after the member's fifty-fifth birthday on which the member would have completed a total of 30 years of creditable service.

IfEfEective theDecember member31, has2003, lessany thanemployee 30in yearsservice ofon serviceJune at30, retirement,2002, theand amountJuly of1, the2002, retirementwho allowanceis shallcredited bewith reducedfive onor anmore actuarialyears equivalentof basiscreditable forservice therendered periodunder bythis whichchapter and earning the actualbenefits retirementpermitted datebe precedessubject to the earliervesting requirements of (a)this thesection, member'sand normal§§ retirement51.1-205 dateand or51.1-216.of (b)this thetitle firstshall datenot onMembers orretiring afterunder the member'sprovisions fifty-fifthof birthdaythis onsubsection whichshall thebe memberentitled wouldto havereceive completedpost-retirement asupplements totalas ofprovided 30in years§ of51.1-166. creditable service.

Effective December 31, 2003, any employee in service on June 30, 2002, and July 1, 2002, who is credited with five or more years of creditable service rendered under this chapter and earning the benefits permitted be subject to the vesting requirements of this section, and §§ 51.1-205 and 51.1-216.of this title shall not Members retiring under the provisions of this subsection shall be entitled to receive post-retirement supplements as provided in § 51.1-166.

In the case of death before retirement, members whose employers elect to provide benefits in accordanceaccordancS with the provisions of this subsection and who have not attained the age of 50 on the date of death shall5hall be assumedassD. to be 50 years of age for the purposes of reducing the benefits on an actuarial equivalent basis.

D.Beginning July 1, 2008, each Each county and city participating in the Virginia Retirementnt basis.

BeginningSystem Julyshall 1,provide 2008,the eachbenefit countycoverage anddescribed cityin participatingsubsection inB thefor Virginiasheriffs Retirementto Systemeach deputy sheriff, regardless of whether the deputy sheriff's salary is funded or reimbursed in whole or in part by the Compensation SB507 2 of 2 Board.

The provisions of this subsection shall apply only to service earned on and after July 1, 2023.

Notwithstanding the provisions of subsection C, beginning July 1, 2009, the City of Danville shall SB507S1 2 of 2 provide to each deputy sheriff the benefit coverage described in subsection B.

Beginning July 1, 2010, any county or city that (i) participates in the Virginia Retirement System pursuant to Chapter 1 (§ 51.1-124.1 et seq.), (ii) has in effect a retirement supplement for deputy sheriffs (in addition to the annual retirement allowance provided under the Virginia Retirement System) that exceeds the allowance set forth in subsection B of §"Segoe UI Symbol",sans-serif'>§ 51.1-206 hereof, and (iii) provides the same level of retirement benefits to all of its deputy sheriffs, may, by resolution legally adopted, elect to provide the benefits coverage under subsection B hereof except for the allowance described in subsection B of § 51.1-206.

2.

That the provisions of this act shall become effective on July 1, 2023.