STATE STATUTES & CODES
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VIRGINIA STATUTES AND CODES
51.1-143.1 - Portability of service credit between the Virginia Retirement System and certain political subdivisions of the Commonwealth.
§ 51.1-143.1. Portability of service credit between the Virginia RetirementSystem and certain political subdivisions of the Commonwealth.
The Virginia Retirement System may enter into an agreement with any politicalsubdivision of the Commonwealth which has a defined benefit plan that is notsupplemental to the Retirement System to permit any vested member of thepolitical subdivision's plan, upon entering service in a covered position andfiling a written application with the Retirement System, to purchase servicecredit, of an amount to be determined by the Board of Trustees, in theRetirement System. The purchase shall be accomplished by and upon thetransfer of assets to the Retirement System from the political subdivision'splan as provided in the agreement.
(1996, cc. 939, 990.)