51.1-1205 - Equivalent distribution. - Virginia Statutes

§ 51.1-1205. Equivalent distribution.

Any member who has attained the age of sixty and who has ten years ofcreditable service as an eligible volunteer shall be entitled to adistribution from the Fund equivalent to the contributions that he has made,the appropriate matching contributions made on his behalf, and any investmentgains on such contributions less any losses, provided that such amount shallbe reduced by the amount of any distribution to such member under §51.1-1206. The Board may provide alternative methods of distribution in lieuof a lump sum distribution to members entitled to a service award under thissection.

The distributions provided shall be in addition to all pensions or otherbenefits under any other statutes of the Commonwealth or the United States.

(1999, cc. 664, 860; 2001, c. 672; 2002, c. 349.)