Virginia Retirement System; service retirement allowance, members who return to work.

Plain English Breakdown

The bill's effective date is July 1, 2027.

Virginia Retirement System Pension Rules for Returning Workers

This bill allows certain retired workers who return to full-time jobs at the Department of Corrections as correctional officers or licensed instructional employees to continue receiving their pension benefits if they meet specific conditions.

What This Bill Does

• Allows VRS members who retire and then come back to work full time at the Department of Corrections as a correctional officer or an instructional employee required to be licensed by the Board of Education to continue receiving their VRS pension under certain conditions.
• Requires a six-month break between retirement and returning to full-time employment for eligibility.
• Specifies that those returning as correctional officers must complete minimum training standards established by the Department of Criminal Justice Services within 12 months of being hired.
• Ensures that continuing to receive a VRS pension does not affect other retirement benefits or disqualify them from cash match plan benefits.

Who It Names or Affects

• VRS members who retire and then return to work full-time at the Department of Corrections as correctional officers or licensed instructional employees.
• The Department of Corrections, which hires these workers.
• The Virginia Retirement System (VRS), which manages pension benefits.

Terms To Know

Virginia Retirement System (VRS)

A retirement system that provides pensions to public employees in Virginia.

Correctional officer

An employee who works at a prison or correctional facility, responsible for maintaining order and security.

Limits and Unknowns

• The bill only applies to certain types of employment within the Department of Corrections.
• It does not specify what happens if someone fails to complete required training within 12 months.

Official Summary Text

Virginia Retirement System; service retirement allowance; return to work.
Allows Virginia Retirement System (VRS) members who return to work full time at the Department of Corrections as a correctional officer or an instructional employee required to be licensed by the Board of Education to continue to receive their VRS pension if (i) the person has a break in service of at least six calendar months between retirement and returning to work full time for the Department of Corrections, (ii) the person is not receiving a retirement benefit pursuant to an early retirement incentive program offered by the Department of Corrections, and (iii) those returning to work as a correctional officer successfully complete the minimum training standards established by the Department of Criminal Justice Services within 12 months of the hiring date. If the person makes the election to continue to receive a VRS pension during such new employment at the Department of Corrections, then (a) such service and compensation shall not affect any other retirement benefits, (b) such person shall still be eligible for cash match plan benefits, and (c) the employer shall include the person's compensation in membership payroll subject to certain employer contributions.

Current Bill Text

HB 1107

SUBCOMMITTEE

1. Line 120, introduced, after
this

strike

chapter

insert

title

SUBCOMMITTEE

2. Line 126, introduced, after
program

strike

offered by the Department of Corrections

insert

from any employer, as defined in §
51.1-124.3

SUBCOMMITTEE

3. Line 127, introduced, after

strike

chapter

insert

title

SUBCOMMITTEE

4. Line 135, introduced, after
shall

insert

not

SUBCOMMITTEE

5. After line 141, introduced

insert

2. That the provisions of this act shall become effective on July 1, 2027.