Bill Text: VA SB651 | 2020 | Regular Session | Chaptered
Bill Title: Fairfax County; policemen's pension and retirement board.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Passed) 2020-04-08 - Governor: Acts of Assembly Chapter text (CHAP0895) [SB651 Detail]
Download: Virginia-2020-SB651-Chaptered.html
Be it enacted by the General Assembly of Virginia:
1. That §1, as amended, of Chapter 303 of the Acts of Assembly of 1944 is amended and reenacted as follows:
§1. The governing body of any county having the urban county
executive form of government is empowered and authorized to create and
establish as hereinafter provided a board to be known as the "policemen's
pension and retirement board" of the county, hereinafter referred to as
the "board." (the board). The board when so created shall
be a body corporate and shall consist of seven eight members;,
one of whom shall be the Director of Finance of the county, who shall also be
the treasurer of the board; two three of whom shall be members of
the retirement system authorized by this act and employed by the county police
department as sworn police officers and who have been elected by the members of
the retirement system authorized by this act who are employed by the police
department as sworn police officers, one two for a term of four
years and one for a term of two years, their successors to be elected for terms
of four years each; and one of whom shall be a member of the retirement system
authorized by this act who has retired from employment by the county police
department as a sworn police officer and who has been elected by the retired
members of the retirement system authorized by this act for a term of four
years; and three of whom shall be appointed by the governing body of the county
for terms of four years each, their successors to be appointed for terms of
four years each. Once elected or appointed, each member shall continue to serve
in office until his successor is elected or appointed. If a vacancy occurs in
the office of a member of the policemen's pension and retirement board of this
system, the vacancy shall be filled for the unexpired term in the same manner
as the office was previously filled.
The three members of the "policemen's pension and retirement board" appointed by the governing body of the county may receive compensation at such rate as the governing body of the county may from time to time approve.
When any such board is so created and constituted, it shall at its first meeting and annually thereafter elect one member as president and one as secretary, and it may elect one member as vice-president.
Except as otherwise provided in this article, no member or employee of the policemen's pension and retirement board shall have any direct or indirect interest in the gains or profits of any investment made by the board. No member or employee of the board shall, directly or indirectly, for himself or as an agent in any manner use the same, except to make such current and necessary payments as are authorized by the board.
