HB 1107

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.