The governing body of any county with an urban county executive form of government may by ordinance reserve the right to amend, suspend, or revoke the retirement plan and trust at any time, so long as the benefits payable under the plan are consistent with § 51.1-800. However, any amendment, suspension, or revocation shall not have the effect of diverting the trust fund to purposes other than the exclusive benefit of the participating employees or their beneficiaries until all liability for accrued benefits payable under the terms of the plan has been fully satisfied.
1990, c. 832.
Structure Code of Virginia
Title 51.1 - Pensions, Benefits, and Retirement
Chapter 8 - Local Retirement Systems
§ 51.1-801. Counties, cities, and towns generally
§ 51.1-802. Assets of retirement systems; exemption from taxation; execution and assignment
§ 51.1-803. Investments of retirement systems
§ 51.1-805. In certain counties
§ 51.1-807. Police officers' pension and retirement boards
§ 51.1-808. Powers, authority, and duties of board
§ 51.1-809. Treasurer of board
§ 51.1-810. Time credited to service record
§ 51.1-811. Eligibility for retirement; retirement allowance
§ 51.1-812. Disability from natural causes not originating in performance of official duties
§ 51.1-813. Disability resulting from activities in discharge of official duties
§ 51.1-814. Employing such presumption in determining eligibility for benefits
§ 51.1-816. Reduction of pension and benefits where income earned during disability retirement
§ 51.1-817. Salary deductions payable to estate or refunded
§ 51.1-818. Funds for payment of pensions and benefits
§ 51.1-819. Adoption of article optional by counties, cities, and towns; appeal
§ 51.1-820. Police officers' pensions and retirements
§ 51.1-821. Police Retirement System
§ 51.1-822. Amendment, suspension, or revocation of retirement plan and trust