Virginia House Bill 511 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 10 2012 - 25% progression, died in committee
Action: 2012-02-20 - House: Left in Appropriations
Pending: House Appropriations Committee
Text: Latest bill text (Prefiled) [HTML]

Virginia Retirement System. Requires that the Virginia Retirement System (i) adjust annually its calculation of pension fund liabilities and obligations by the rate of interest on 10-year U.S. Treasury notes and (ii) assume a rate of return on its investments no greater than the rate of interest on such notes. The bill shall expire whenever the funding level for the Virginia Retirement System is at least 90 percent of actuarial attested premium obligations and liabilities for three consecutive years.

VRS; calculation for pension fund liabilities and assumed rate of return on its investments.

Del. Harry Purkey [R]

Date	Chamber	Action
2012-02-20		House: Left in Appropriations
2012-01-16		House: Assigned App. sub: Compensation and Retirement
2012-01-10		House: Referred to Committee on Appropriations
2012-01-10		House: Prefiled and ordered printed; offered 01/11/12 12102238D

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?121+sum+HB511
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+HB511+hil