15.2-1510 - Retirement systems. - Virginia Statutes

§ 15.2-1510. Retirement systems.

Any locality may establish a system for the retirement of injured orsuperannuated officers and employees; the members of the local police andfire departments; the public school teachers and other employees of the localschool board; and the judges, clerks, deputy clerks and other employees ofthe judicial system; or any of them; and may establish a fund or funds forthe payment of retirement allowances by making appropriations out of thelocal treasury, by levying a special tax for the benefit of such fund orfunds, by requiring contributions payable from time to time from suchofficers, employees, members of police and fire departments, teachers,judges, clerks, deputy clerks and other employees of the judicial system, orby any combination of such methods, or by any other method not prohibited bylaw; provided that the total annual payments into such fund or funds shall besufficient on sound actuarial principles for the payment of such retirementallowances therefrom. The benefits accrued or accruing to any person undersuch system shall not be subject to execution, levy, attachment, garnishmentor any other process whatsoever nor shall any assignment of such benefits beenforceable in any court.

(Code 1950, § 15-77.13; 1958, c. 328; 1962, c. 623, § 15.1-849; 1997, c. 587.)