In addition to the annual actuarial evaluation currently provided to participating localities by the Virginia Retirement System, VRS annually shall provide each participating locality the locality-specific data on which the annual actuarial evaluation is based, and such other information as may be necessary for each locality to determine the specific assumptions that are driving its VRS-related costs, and to understand the retirement costs of different classes of covered employees. The Virginia Retirement System is authorized to assess fees for data collection, reporting, actuarial analysis, and other requested services beyond those required for the annual actuarial valuation provided to each participating employer. Such fees may be collected from funds maintained and invested by the Virginia Retirement System on behalf of each requesting employer.
2007, c. 466.
Structure Code of Virginia
Title 51.1 - Pensions, Benefits, and Retirement
Chapter 1 - Virginia Retirement System
§ 51.1-124.1. Virginia Retirement System established
§ 51.1-124.2. Virginia Supplemental Retirement System continued as Virginia Retirement System
§ 51.1-124.5. Disclosure of social security account numbers
§ 51.1-124.6. Benefits to be paid monthly
§ 51.1-124.7. Distribution of assets upon repeal of system
§ 51.1-124.8. Persons affected by changes in retirement benefits
§ 51.1-124.9. Changes or errors in records resulting in erroneous payments; employer liability
§ 51.1-124.10. Falsification of records; penalty
§ 51.1-124.11. Recovery of payments procured by fraud, false statement, etc.
§ 51.1-124.12. Procedure when employer required to withdraw funds
§ 51.1-124.13. Loss of benefits; certain felony convictions
§ 51.1-124.20. Board of Trustees; membership; terms; quorum; compensation and expenses
§ 51.1-124.21. Application of State and Local Government Conflict of Interests Act
§ 51.1-124.22. Board to administer Retirement System; powers and duties
§ 51.1-124.24. Chief investment officer; qualifications; duties
§ 51.1-124.25. Existing advisory committees of the Virginia Retirement System abolished
§ 51.1-124.27. Employees of the Retirement System
§ 51.1-124.28. Legal representation in criminal matters
§ 51.1-124.30. Board as trustee of funds; investments; standard of care; liability for losses
§ 51.1-124.30:1. Adoption of stress testing and reporting policies
§ 51.1-124.31. Pooling of assets for investment
§ 51.1-124.32. Exemption from Public Procurement Act
§ 51.1-124.33. Deposit of trust funds not an investment; authorized deposits
§ 51.1-124.34. Retention of investments that become ineligible
§ 51.1-124.35. Investment provisions exclusive
§ 51.1-124.36. Investment of assets of the Commonwealth Health Research Fund
§ 51.1-124.37. Investment of assets of the Commonwealth's Attorneys Training Fund
§ 51.1-124.39. Investment of assets of the Line of Duty Death and Health Benefits Trust Fund
§ 51.1-124.40. Investment of assets of the Opioid Abatement Fund
§ 51.1-125. Persons composing membership; persons holding more than one position
§ 51.1-126. Employees of institutions of higher education
§ 51.1-126.1. Certain employees of teaching hospitals
§ 51.1-126.3. Employees of the University of Virginia Medical Center
§ 51.1-126.4. Employees of the Virginia Port Authority
§ 51.1-126.5. Defined contribution plan for eligible members
§ 51.1-126.6. Certain employees of public school divisions
§ 51.1-126.7. Employees of the Virginia Outdoors Foundation
§ 51.1-126.8. Maximum contributions to optional plans; coordination of limits
§ 51.1-127. Federal Employees' Retirement System
§ 51.1-128. Cessation of membership
§ 51.1-129. Limitation on membership
§ 51.1-130. Resolution of governing body; approval by Board
§ 51.1-131. Local pension systems; transfer to retirement system
§ 51.1-132. Eligible employees
§ 51.1-133. Limitation on membership
§ 51.1-134. Optional membership; creditable service
§ 51.1-135. Compulsory membership
§ 51.1-136. Submitting information and performing duties prescribed by Board
§ 51.1-137. Computation of employer contribution rates; reimbursement by Commonwealth
§ 51.1-137.1. Certain local data to be provided
§ 51.1-139. Procedure when employer in default
§ 51.1-141. Service equivalents
§ 51.1-142.3. Purchase of additional prior service credit by certain school division superintendents
§ 51.1-144. Member contributions
§ 51.1-145. (Effective until July 1, 2024) Employer contributions
§ 51.1-145. (Effective July 1, 2024) Employer contributions
§ 51.1-146. Failure to report or pay contributions or insurance premiums
§ 51.1-147. Members' contribution account
§ 51.1-148. Retirement allowance account
§ 51.1-149. Appointment of custodian; payments
§ 51.1-152. Limitations on average final compensation
§ 51.1-153. Service retirement
§ 51.1-154. Compulsory service retirement
§ 51.1-155. Service retirement allowance
§ 51.1-156. Disability retirement
§ 51.1-157. Disability retirement allowance
§ 51.1-159. Medical examinations of persons retired for disability
§ 51.1-160. Cessation of disability retirement allowance
§ 51.1-161. Withdrawal of contributions before retirement
§ 51.1-162. Death before retirement
§ 51.1-163. Death after retirement
§ 51.1-165.01. Partial lump-sum option for payment of retirement allowance
§ 51.1-165.1. Acknowledgment by spouse of member
§ 51.1-166. Post-retirement supplements generally
§ 51.1-167. Retirement allowance to be reduced in certain cases
§ 51.1-168. Limits on creditable compensation; maximum benefits; mandatory payment of allowance