Chapter 1. Virginia Retirement SystemRead Chapter
- Article 1. General ProvisionsRead all
- § 51.1-100
- Repealed
- Article 1.1. General ProvisionsRead all
- § 51.1-124.1
- Virginia Retirement System established
- § 51.1-124.2
- Virginia Supplemental Retirement System continued as Virginia Retirement System
- § 51.1-124.3
- Definitions
- § 51.1-124.4
- Exemption of assets from taxation; exemption of benefits and assets from execution and assignment; trust funds; unclaimed property; eligible rollover distribution
- § 51.1-124.5
- Disclosure of social security account numbers
- § 51.1-124.6
- Benefits to be paid monthly
- § 51.1-124.7
- Distribution of assets upon repeal of system
- § 51.1-124.8
- Persons affected by changes in retirement benefits
- § 51.1-124.9
- Changes or errors in records resulting in erroneous payments; employer liability
- § 51.1-124.10
- Falsification of records; penalty
- § 51.1-124.11
- Recovery of payments procured by fraud, false statement, etc.
- § 51.1-124.12
- Procedure when employer required to withdraw funds
- § 51.1-124.13
- Loss of benefits; certain felony convictions
- § 51.1-124.14
- Reserved
- Article 2.1. Board of Trustees, Medical Board, and Advisory CommitteesRead all
- § 51.1-124.20
- Board of Trustees; membership; terms; quorum; compensation and expenses
- § 51.1-124.21
- Application of State and Local Government Conflict of Interests Act
- § 51.1-124.22
- Board to administer Retirement System; powers and duties
- § 51.1-124.23
- Medical boards
- § 51.1-124.24
- Chief investment officer; qualifications; duties
- § 51.1-124.25
- Existing advisory committees of the Virginia Retirement System abolished
- § 51.1-124.26
- Advisory Committees to the Board of Trustees; membership; terms; qualifications; duties
- § 51.1-124.27
- Employees of the Retirement System
- § 51.1-124.28
- Legal representation in criminal matters
- § 51.1-124.29
- Reserved
- Article 3.1. InvestmentsRead all
- § 51.1-124.30
- Board as trustee of funds; investments; standard of care; liability for losses
- § 51.1-124.30:1
- Adoption of stress testing and reporting policies
- § 51.1-124.31
- Pooling of assets for investment
- § 51.1-124.32
- Exemption from Public Procurement Act
- § 51.1-124.33
- Deposit of trust funds not an investment; authorized deposits
- § 51.1-124.34
- Retention of investments that become ineligible
- § 51.1-124.35
- Investment provisions exclusive
- § 51.1-124.36
- Investment of assets of the Commonwealth Health Research Fund
- § 51.1-124.37
- Investment of assets of the Commonwealth's Attorneys Training Fund
- § 51.1-124.38
- Repealed
- § 51.1-124.39
- Investment of assets of the Line of Duty Death and Health Benefits Trust Fund
- § 51.1-124.40
- Investment of assets of the Opioid Abatement Fund
- Article 4. Membership in Retirement SystemRead all
- § 51.1-125
- Persons composing membership; persons holding more than one position
- § 51.1-126
- Employees of institutions of higher education
- § 51.1-126.1
- Certain employees of teaching hospitals
- § 51.1-126.2
- Repealed
- § 51.1-126.3
- Employees of the University of Virginia Medical Center
- § 51.1-126.4
- Employees of the Virginia Port Authority
- § 51.1-126.5
- Defined contribution plan for eligible members
- § 51.1-126.6
- Certain employees of public school divisions
- § 51.1-126.7
- Employees of the Virginia Outdoors Foundation
- § 51.1-126.8
- Maximum contributions to optional plans; coordination of limits
- § 51.1-127
- Federal Employees' Retirement System
- § 51.1-128
- Cessation of membership
- § 51.1-129
- Limitation on membership
- Article 5. Participation of Political Subdivisions in Retirement SystemRead all
- § 51.1-130
- Resolution of governing body; approval by Board
- § 51.1-131
- Local pension systems; transfer to retirement system
- § 51.1-132
- Eligible employees
- § 51.1-133
- Limitation on membership
- § 51.1-134
- Optional membership; creditable service
- § 51.1-135
- Compulsory membership
- § 51.1-136
- Submitting information and performing duties prescribed by Board
- § 51.1-137
- Computation of employer contribution rates; reimbursement by Commonwealth
- § 51.1-137.1
- Certain local data to be provided
- § 51.1-138
- Benefits
- § 51.1-139
- Procedure when employer in default
- Article 6. Creditable ServiceRead all
- § 51.1-140
- Repealed
- § 51.1-141
- Service equivalents
- § 51.1-142
- Repealed
- § 51.1-142.2
- Prior service or membership credit for certain members; service credit for accumulated sick leave
- § 51.1-142.3
- Purchase of additional prior service credit by certain school division superintendents
- § 51.1-143
- Repealed
- § 51.1-143.1
- Portability of service credit between the Virginia Retirement System and certain political subdivisions of the Commonwealth
- Article 7. ContributionsRead all
- § 51.1-144
- Member contributions
- § 51.1-145
- (Effective until July 1, 2024) Employer contributions
- § 51.1-145
- (Effective July 1, 2024) Employer contributions
- § 51.1-146
- Failure to report or pay contributions or insurance premiums
- Article 8. Assets of Retirement SystemRead all
- § 51.1-147
- Members' contribution account
- § 51.1-148
- Retirement allowance account
- § 51.1-149
- Appointment of custodian; payments
- § 51.1-150
- Deposits
- § 51.1-151
- Repealed
- Article 9. BenefitsRead all
- § 51.1-152
- Limitations on average final compensation
- § 51.1-153
- Service retirement
- § 51.1-154
- Compulsory service retirement
- § 51.1-155
- Service retirement allowance
- § 51.1-155.1
- Exceptions from general early retirement provisions for certain state employees and constitutional officers
- § 51.1-155.2
- Exceptions from general early retirement provisions for certain local government officials
- § 51.1-156
- Disability retirement
- § 51.1-157
- Disability retirement allowance
- § 51.1-158
- Reduction of benefits for acceptance of lump-sum settlement under Workers' Compensation Act
- § 51.1-159
- Medical examinations of persons retired for disability
- § 51.1-160
- Cessation of disability retirement allowance
- § 51.1-161
- Withdrawal of contributions before retirement
- § 51.1-162
- Death before retirement
- § 51.1-163
- Death after retirement
- § 51.1-164
- Repealed
- § 51.1-165
- Optional benefits
- § 51.1-165.01
- Partial lump-sum option for payment of retirement allowance
- § 51.1-165.1
- Acknowledgment by spouse of member
- § 51.1-166
- Post-retirement supplements generally
- § 51.1-167
- Retirement allowance to be reduced in certain cases
- § 51.1-168
- Limits on creditable compensation; maximum benefits; mandatory payment of allowance
- § 51.1-169
- Hybrid retirement program