A. The costs of providing short-term disability benefits shall be paid by the respective employers of participating employees. Employers that are state agencies shall pay such costs from funds as shall be appropriated by law to state agencies.
B. Employers of participating employees shall pay to the Board contribution amounts, to be determined by the Board, to provide the Board with such funds as shall be required from time to time to (i) obtain and maintain long-term disability insurance policies under this chapter and (ii) administer the Program, including providing case management and cost containment programs. Employers that are state agencies shall make such contributions from funds as shall be appropriated by law to state agencies. Contributions shall be deposited in the Hybrid Retirement Program Disability Insurance Trust Fund.
C. There is hereby established the Hybrid Retirement Program Disability Insurance Trust Fund. The costs incurred by the Board in providing policies of long-term disability insurance and administering the Program and in administering the long-term care insurance program established under § 51.1-1178, including the provision of case management and cost containment programs, shall be withdrawn from time to time by the Board from the Hybrid Retirement Program Disability Insurance Trust Fund. The funds of the Hybrid Retirement Program Disability Insurance Trust Fund shall be deemed separate and independent trust funds, shall be segregated from all other funds of the Commonwealth and its political subdivisions, and shall be invested and administered solely in the interests of the participating employees and beneficiaries thereof. Neither the General Assembly nor any public officer, employee, or agency shall use or authorize the use of such trust funds for any purpose other than as provided in law for benefits, refunds, and administrative expenses, including but not limited to legislative oversight of the Hybrid Retirement Program Disability Insurance Trust Fund.
2012, cc. 701, 823.
Structure Code of Virginia
Title 51.1 - Pensions, Benefits, and Retirement
Chapter 11.1 - Disability Program for Hybrid Retirement Program Participants
§ 51.1-1151. Sickness and disability program; disability insurance policies
§ 51.1-1152. Additional powers of the Board
§ 51.1-1153. Participation in the program
§ 51.1-1154. Applicability of article
§ 51.1-1155. Short-term disability benefit
§ 51.1-1156. Successive periods of short-term disability
§ 51.1-1157. Long-term disability benefit
§ 51.1-1158. Successive periods of long-term disability
§ 51.1-1159. Adjustments to disability benefits
§ 51.1-1160. Rehabilitation incentive
§ 51.1-1161. Cessation of disability benefits; service retirement
§ 51.1-1162. Applicability of article
§ 51.1-1163. Supplemental short-term disability benefit
§ 51.1-1164. Successive periods of short-term disability
§ 51.1-1165. Supplemental long-term disability benefit
§ 51.1-1166. Successive periods of long-term disability
§ 51.1-1167. Adjustments in supplemental disability benefits
§ 51.1-1168. Rehabilitation incentive
§ 51.1-1169. Cessation of supplemental disability benefits; service retirement
§ 51.1-1170. Coordination of benefits
§ 51.1-1171. Supplemental benefits for catastrophic disability
§ 51.1-1172. Employer contributions during disability absences
§ 51.1-1173. Health insurance coverage during disability absences
§ 51.1-1174. Life and accident insurance coverage during disability absences
§ 51.1-1175. Optional insurance during disability absences
§ 51.1-1176. Exclusions and limitations
§ 51.1-1178. Board authorized to provide long-term care insurance and benefits
§ 51.1-1179. Limitation on coverage
§ 51.1-1180. Keeping records and furnishing information required by Board
§ 51.1-1181. Benefits exempt from process
§ 51.1-1182. Policies to provide for accounting to Board; advance premium deposit reserve