Virginia 2023 Regular Session Status: Enacted

SB 1107 — Virginia Retirement System; law-enforcement officers, return to work.

Last action — Acts of Assembly Chapter text (CHAP0692)

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House of Delegates
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 10, 2023. Enacted.

Signed by Governor Glenn Youngkin (Republican) on March 27, 2023.

Prognosis

Advancing 38% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Failed a recorded vote

    Failed 6 recorded votes so far — a real headwind.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

152 added · 142 removed

Plain-language change summary

The amendments to Bill SB 1107 update the Virginia Retirement System guidelines, particularly impacting how retirement allowances are calculated for members who joined on or after July 1, 2010, or those who have fewer than 60 months of creditable service as of January 1, 2013. Under the changes, the retirement allowance is structured to provide a slightly lower percentage for certain service periods while maintaining a higher rate for longer tenure. This adjustment is significant as it helps ensure the retirement benefits remain sustainable in light of changing workforce demographics and encourages longer service among employees.

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SESSION ENROLLED VIRGINIA ACTS OF ASSEMBLY –– CHAPTER E An Act to amend and reenact § 51.1-155 of the Code of Virginia and to amend and reenact the fifth as amended by the second enactment of Chapter 211 of the Acts of Assembly of 2003, Chapter 6091, of the Acts of Assembly of 2005, the first enactment of Chapter 590 of the Acts of Assembly Of 2009, the first enactment of Chapter 326 of the Acts of Assembly of 2015, and the first enactment of Chapter 765 of the Acts of Assembly of 2019, and the third enactment of Chapter 563 of the Acts of Assembly of 2004, as amended by Chapter 607 and Chapter 608 of the Acts of Assembly of 2005,L the second enactment of Chapter 590 of the Acts of Assembly of 2009, the second enactment of Chapter 326 of the Acts of Assembly of 2015, and the second enactment of Chapter 765 of the Ects of Assembly of 2019, and to amend Chapter 968 and Chapter 969 of the Acts of Assembly of 202D by adding a second enactment, relating to Virginia Retirement System;
VIRGINIA ACTS OF ASSEMBLY -- 2023 SESSION CHAPTER 692 An Act to amend and reenact § 51.1-155 of the Code of Virginia and to amend and reenact the fifth enactment of Chapter 689 and the fifth enactment of Chapter 700 of the Acts of Assembly of 2001, as amended by the second enactment of Chapter 211 of the Acts of Assembly of 2003, Chapter 609 of the Acts of Assembly of 2005, the first enactment of Chapter 590 of the Acts of Assembly of 2009, the first enactment of Chapter 326 of the Acts of Assembly of 2015, and the first enactment of Chapter 765 of the Acts of Assembly of 2019, and the third enactment of Chapter 563 of the Acts of Assembly of 2004, as amended by Chapter 607 and Chapter 608 of the Acts of Assembly of 2005, the second enactment of Chapter 590 of the Acts of Assembly of 2009, the second enactment of Chapter 326 of the Acts of Assembly of 2015, and the second enactment of Chapter 765 of the Acts of Assembly of 2019, and to amend Chapter 968 and Chapter 969 of the Acts of Assembly of 2020 by adding a second enactment, relating to Virginia Retirement System;
[S 1107] Approved Be it enacted by the General Assembly of Virginia:
[S 1107] Approved March 27, 2023 Be it enacted by the General Assembly of Virginia:
B § 51.1-155.
§ 51.1-155.
1 life, as follows:allowance.
A.
–– A member shall receive an annual retirement allowance, payable f7r 1.
Retirement allowance.
–– A member shall receive an annual retirement allowance, payable for life, as follows:
1.
shall be determined in the same manner as for normal retirement with creditable service and averagece final compensation being determined as of the date of actual retirement.
2.
Early retirement;
applicable to teachers, state employees, and certain others.
–– The allowance shall be determined in the same manner as for normal retirement with creditable service and average final compensation being determined as of the date of actual retirement.
becomes a member on or after July 1, 2010, and any member who does not have at least 60 months of creditable service as of January 1, 2013.
3.
Early retirement;
applicable to employees of certain political subdivisions, any person who becomes a member on or after July 1, 2010, and any member who does not have at least 60 months of creditable service as of January 1, 2013.
If the creditable service of the member equals 30 or more years but the sum of his age at retirement plus his creditable service at retirement is less than 90, the amount of the retirement allowance shall be reduced on an actuarial equivalent basis for the period by which the actual retirement date precedes the earlier of (i) his normal retirement date or (ii) the first date on which the sum of his then attained age plus his then creditable service would have been equal to 90 or more had retirement allowance shall be reduced for the period by which the actual retirement date precedes thehe earlier of (i) his normal retirement date or (ii) the first date on which he would have completed a total of at least 30 years of creditable service and his then creditable service plus his then attained age would have been equal to 90 or more.
If the creditable service of the member equals 30 or more years but the sum of his age at retirement plus his creditable service at retirement is less than 90, the amount of the retirement allowance shall be reduced on an actuarial equivalent basis for the period by which the actual retirement date precedes the earlier of (i) his normal retirement date or (ii) the first date on which the sum of his then attained age plus his then creditable service would have been equal to 90 or more had he remained in service until such date.
If the member has less than 30 years of creditable service, the retirement allowance shall be reduced for the period by which the actual retirement date precedes the earlier of (i) his normal retirement date or (ii) the first date on which he would have completed a total of at least 30 years of creditable service and his then creditable service plus his then attained age would have been equal to 90 or more.
No such election shall be made for a person who becomes a member on or January 1, 2013.
No such election shall be made for a person who becomes a member on or after July 1, 2010, or a member who does not have at least 60 months of creditable service as of January 1, 2013.
of 3 Notwithstanding the foregoing, a political subdivision by legally adopted resolution may declare to the Board that, for purposes of this subdivision, subdivisions B 1 and B 3 and subsection D of § 51.1-153, any person who meets the definition of "emergency medical services personnel" in § 32.1-111.1 or is employed as a firefighter or law-enforcement officer as those terms are defined in § 15.2-1512.2 (i) shall not be considered a person who becomes a member on or after July 1, 2010, and (ii) shall be deemed to have at least 60 months of creditable service as of January 1, 2013.
Notwithstanding the foregoing, a political subdivision by legally adopted resolution may declare to the Board that, for purposes of this subdivision, subdivisions B 1 and B 3 and subsection D of of 3 § 51.1-153, any person who meets the definition of "emergency medical services personnel" in § 32.1-111.1 or is employed as a firefighter or law-enforcement officer as those terms are defined in § 15.2-1512.2 (i) shall not be considered a person who becomes a member on or after July 1, 2010, and (ii) shall be deemed to have at least 60 months of creditable service as of January 1, 2013.
(i) the person has a break in service of at least 12 six of 3 calendar months between retirement for service as a sworn law-enforcement officer and employment as a retirement incentive program from any local public school division within the Commonwealth;
(i) the person has a break in service of at least 12 six calendar months between retirement for service as a sworn law-enforcement officer and employment as a school security officer;
(ii) the person is not receiving a retirement benefit pursuant to an early retirement incentive program from any local public school division within the Commonwealth;
and (iv) the person did not participate in any incentive Rrogram established under the second or third enactment of Chapters 152 and 811 of the Acts of Assembly of 1995.
and (iv) the person did not participate in any incentive program of 3 established under the second or third enactment of Chapters 152 and 811 of the Acts of Assembly of 1995.
If the person elects to continue to receive the retirement allowance during the period ofOsuch increase, decrease, or affect in any way his retirement benefits before, during, or after such employment, nor shall such person be eligible to receive any retirement benefits available to him pursuant to Chapter 6.1 (§ 51.1-607 et seq.).
If the person elects to continue to receive the retirement allowance during the period of such employment, then his service performed and compensation received during such period of time will not increase, decrease, or affect in any way his retirement benefits before, during, or after such employment, nor shall such person be eligible to receive any retirement benefits available to him pursuant to Chapter 6.1 (§ 51.1-607 et seq.).
In addition, the employer shall include the person's compensation in L membership payroll subject to employer contributions under § 51.1-145.
In addition, the employer shall include the person's compensation in membership payroll subject to employer contributions under § 51.1-145.
E At least once in each four-year period, in conjunction with the actuarial investigation madeDunder subdivision A 4 of § 51.1-124.22, there shall be an actuarial investigation made of the experience under Assembly advising it of the results of such investigation.
At least once in each four-year period, in conjunction with the actuarial investigation made under subdivision A 4 of § 51.1-124.22, there shall be an actuarial investigation made of the experience under subdivisions B 3 and 4 of this section, and the retirement system shall submit a report to the General Assembly advising it of the results of such investigation.
system shall submit a report to the General 2.
2.
That the fifth enactment of Chapter 689 and the fifth enactment of Chapter 700 of the Acts of Assembly of 2001, as amended by the second enactment of Chapter 211 of the Acts of Assembly of 2003, Chapter 609 of the Acts of Assembly of 2005, the first enactment of Chapter 590 of the Acts of Assembly of 2009, the first enactment of Chapter 326 of the Acts of Assembly of 2015, and the follows:actment of Chapter 765 of the Acts of Assembly of 2019, are amended and reenacted as B 5.
That the fifth enactment of Chapter 689 and the fifth enactment of Chapter 700 of the Acts of Assembly of 2001, as amended by the second enactment of Chapter 211 of the Acts of Assembly of 2003, Chapter 609 of the Acts of Assembly of 2005, the first enactment of Chapter 590 of the Acts of Assembly of 2009, the first enactment of Chapter 326 of the Acts of Assembly of 2015, and the first enactment of Chapter 765 of the Acts of Assembly of 2019, are amended and reenacted as follows:
5.
1 3.
3.
That the third enactment of Chapter 563 of the Acts of Assembly of 2004, as amended by 7 Chapter 607 and Chapter 608 of the Acts of Assembly of 2005, the second enactment of Chapter R 590 of the Acts of Assembly of 2009, the second enactment of Chapter 326 of the Acts of Assembly of 2015, and the second enactment of Chapter 765 of the Acts of Assembly of 2019, is amended and3.
That the third enactment of Chapter 563 of the Acts of Assembly of 2004, as amended by Chapter 607 and Chapter 608 of the Acts of Assembly of 2005, the second enactment of Chapter of the Acts of Assembly of 2009, the second enactment of Chapter 326 of the Acts of Assembly of 2015, and the second enactment of Chapter 765 of the Acts of Assembly of 2019, are amended and reenacted as follows:
3.
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Action History

  1. Acts of Assembly Chapter text (CHAP0692)

  2. Approved by Governor-Chapter 692 (effective 1/1/24)

  3. Governor's Action Deadline 11:59 p.m., March 27, 2023

  4. Enrolled Bill Communicated to Governor on March 2, 2023

  5. Impact statement from VRS (SB1107ER)

  6. Signed by Speaker

  7. Signed by President

  8. Bill text as passed Senate and House (SB1107ER)

  9. Enrolled

  10. Title replaced 23106715D-H1

  11. House substitute agreed to by Senate (40-Y 0-N)

  12. Passed by for the day

  13. Impact statement from VRS (SB1107H1)

  14. VOTE: Block Vote Passage (99-Y 0-N)

  15. Passed House with substitute BLOCK VOTE (99-Y 0-N)

  16. Engrossed by House - committee substitute SB1107H1

  17. Committee substitute agreed to 23106715D-H1

  18. Read third time

  19. Read second time

  20. Committee substitute printed 23106715D-H1

  21. Reported from Appropriations with substitute (21-Y 0-N)

  22. Assigned App. sub: Compensation and Retirement

  23. Referred to Committee on Appropriations

  24. Read first time

  25. Placed on Calendar

  26. Read third time and passed Senate (39-Y 0-N)

  27. Impact statement from VRS (SB1107S1)

  28. Engrossed by Senate - committee substitute SB1107S1

  29. Committee substitute agreed to 23105373D-S1

  30. Reading of substitute waived

  31. Read second time

  32. Constitutional reading dispensed (40-Y 0-N)

  33. Reported from Finance and Appropriations with substitute (16-Y 0-N)

  34. Committee substitute printed 23105373D-S1

  35. Senate committee, floor amendments and substitutes offered

  36. Impact statement from VRS (SB1107)

  37. Referred to Committee on Finance and Appropriations

  38. Prefiled and ordered printed; offered 01/11/23 23102085D

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 147 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (147)

147 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Votes

Subjects

public-safety veterans labor
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Frequently asked questions

Who sponsors SB 1107?
SB 1107 is sponsored by Cosgrove, John A., Jr..
What is the current status of SB 1107?
This bill has been enacted into law. Introduced January 10, 2023. Enacted.
Where can I track SB 1107?
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