The June 2015 VRS Employer Update is now available. The update includes a concise and informative three page VRS Legislative Summary from the 2015 General Assembly session.
VACo is very active on retirement and employee benefits related bills. Included in the summary is a description of a one-time payment to the Teachers’ Retirement Fund which will reduce the contribution rates for counties and cities. VACo is also working in the interim to ensure that county input is included in the Line of Duty Act workgroup mentioned in the report.
Not mentioned in the report are the numerous 2015 session bills that VACo members and partners successfully lobbied against that would have increased unfunded mandates for localities by over $11 million and increased unfunded liabilities of state and local plans by over $136 million.
VACo Contact: Erik Johnston, CAE