reglab/statecodes huggingface dataset:
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-500. Definitions

As used in this chapter, unless the context requires a different meaning:
"Accident" means an accident covered under the group insurance coverage purchased by the Board.
"Board" means the Board of Trustees of the Virginia Retirement System.
"College savings trust account" means the same as that term is defined in § 23.1-700.
"Company" means insurance company.
"Contributor" means the same as that term is defined in § 23.1-700.
"Dependent child" means (i) the insured employee's unmarried natural or legally adopted children who are not self-supporting; (ii) the insured employee's unmarried stepchildren living full time with the insured employee in a parent-child relationship and who can be claimed as a dependent on the insured employee's federal income tax return; (iii) any other children if they are in the insured employee's court-ordered custody; or (iv) other dependent children of the employee's family who are eligible for coverage under the family membership program offered under policies and procedures of the Department of Human Resource Management governing health insurance plans administered pursuant to § 2.2-1204 or § 2.2-2818.
"Dismemberment" means a dismemberment covered under the group insurance coverage purchased by the Board.
"Eligible educational institution" has the same meaning as that term is defined in § 529 of the Internal Revenue Code.
"Felonious assault" means a physical assault (i) by another person resulting in bodily harm to an insured employee; (ii) that takes place while such employee is performing his customary duties at the employer's normal place of business or at other places the employer's business requires him to travel; (iii) that involves the use of force or violence with the intent to cause harm; and (iv) that is a felony or misdemeanor under applicable law.
"Group insurance program" or "insurance program" means the plan covered under the policy purchased by the Board which provides group life, accidental death, and dismemberment insurance coverage for employees.
"Immediate family member" means the insured employee's spouse, children, parents, grandparents, grandchildren, brothers and sisters and their spouses.
"Qualified higher education expenses" has the same meaning as that term is defined in § 529 of the Internal Revenue Code.
"Qualifying child" means a dependent child less than eighteen years of age, or if eighteen years of age or older a dependent child enrolled in high school.
"Retirement System" means the Virginia Retirement System.
"Safety restraint system" means a properly installed seatbelt, lap and shoulder restraint or other restraint approved by the National Highway Traffic Safety Administration or any successor governmental agency. The term excludes an air bag safety system.
In addition to the definitions listed above, the definitions listed in § 51.1-124.3 shall apply to this chapter except as otherwise provided.
1990, c. 832; 2001, cc. 685, 690; 2020, cc. 245, 374.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-501. Board authorized to purchase group life and accident insurance policies

The Board is authorized to purchase group insurance policies to insure eligible employees. The policies shall provide life, accidental death, and dismemberment insurance and shall be purchased from and carried with a life insurance company authorized to do business in the Commonwealth and which maintains in the Commonwealth sufficient staff and facilities to efficiently administer and service the insurance. Each policy shall contain a provision stipulating the maximum expense and risk charges that are determined by the Board to be on a basis consistent with the general level of charges made by life insurance companies under policies of group life, accidental death, and dismemberment insurance issued to large employers. The Board may require that the policies have reinsurance with a life insurance company incorporated or organized under the laws of and authorized to do business in the Commonwealth.
1960, c. 604, § 51-111.67:1; 1968, c. 617; 1974, c. 353; 1985, c. 236; 1990, c. 832.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-502. Eligible employees and officers

The following persons are eligible to participate in the group insurance program:
1. Teachers.
2. State employees.
3. Members of the State Police Officers' Retirement System.
4. Members of the Judicial Retirement System.
5. Members of the Virginia Law Officers' Retirement System.
6. Regular full-time employees of a political subdivision participating in the Virginia Retirement System, subject to Board approval. In order for coverage to become effective, seventy-five percent of the eligible employees must elect to become covered on the effective date of coverage. Limitation of waiver of group insurance as provided in this chapter shall be in effect for all employees after the effective date of coverage.
7. Regular full-time employees of a local school board who participate in the retirement system of a local government which provides group life insurance for its employees under this chapter.
1960, c. 604, § 51-111.67:2; 1962, c. 542; 1968, c. 736; 1971, Ex. Sess., cc. 88, 185; 1972, c. 708; 1973, cc. 545, 546; 1974, cc. 353, 484; 1975, cc. 597, 611; 1976, c. 551; 1977, c. 620; 1980, c. 595; 1981, c. 478; 1982, cc. 467, 478; 1990, c. 832; 1992, c. 530; 2000, c. 911.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-502.1. Certain employees of teaching hospitals

Any teaching hospital affiliated with an institution of higher education, other than the University of Virginia Medical Center, may purchase group life, accidental death and dismemberment, and disability insurance policies covering in whole or in part its employees who are health care providers, as determined by the Department of Human Resource Management pursuant to § 2.2-2905. In addition, any such teaching hospital may increase the coverage under such policies to make available to each active insured employee optional life, accidental death and dismemberment insurance as provided in § 51.1-512. All health care providers employed by such teaching hospital on or after July 1, 1992, shall be covered by the policies purchased by the teaching hospital as soon as such policies become effective and may not elect to be covered by the Board's group insurance program under § 51.1-501. Nor shall they be required to present at their own expense evidence of insurability satisfactory to an insurance company upon changing from one form of coverage to another provided by this chapter. No other section of this chapter shall apply to insurance coverage offered by a teaching hospital to which this section applies, except §§ 51.1-510 and 51.1-511.
Notwithstanding the definition of "state employee" contained in § 51.1-124.3, a health care provider, as determined in accordance with subdivisions 18 and 19 of § 2.2-2905, may be enrolled in a health care plan other than that provided for in § 2.2-2818, at the election of a teaching hospital to which this section applies, and subject to the review and approval of the Secretary of Education.
1992, c. 417; 1996, cc. 933, 995; 2000, cc. 66, 657.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-502.3. Certain employees of the Virginia Port Authority

The Virginia Port Authority may purchase group life, accidental death and dismemberment, and disability insurance policies covering in whole or in part its employees who elect to participate in any retirement plan established under the provisions of § 51.1-126.4. In addition, the Authority may increase the coverage under such policies to make available to each active insured employee optional life and accidental death and dismemberment insurance as provided in § 51.1-512. All eligible employees of the Authority shall be covered by the policies purchased by the Authority as soon as such policies become effective and may not elect to be covered by the Board's group insurance program under § 51.1-501, nor shall they be required to present at their own expense evidence of insurability satisfactory to an insurance company upon changing from one form of coverage to another provided by this chapter. No other section of this chapter shall apply to insurance coverage offered by the Authority to which this section applies except §§ 51.1-510 and 51.1-511.
1997, c. 232.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-503. Limitation on coverage

No person shall have more than one coverage under the group insurance program. Any person employed in more than one position which provides coverage under the group insurance program shall elect one position on which his coverage shall be based by written notification to the Board.
1952, c. 157, § 51-111.27; 1954, c. 241; 1960, c. 400; 1973, c. 523; 1978, c. 841; 1982, c. 467; 1984, c. 430; 1985, c. 490; 1987, c. 575; 1990, c. 832.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-504. Election of political subdivision to participate; approval by Board

Any political subdivision which has group life insurance with any insurance company or nonprofit association may continue the coverage, but shall not participate in this group insurance program while the other group life insurance is in effect. Upon discontinuance of the other group life insurance, the political subdivision may request coverage for eligible employees under this group insurance program.
1960, c. 604, § 51-111.67:3; 1964, c. 407; 1977, cc. 429, 620; 1986, c. 474; 1990, c. 832; 1993, c. 895.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-506. Employee contributions; payroll deductions; effect of failure to deduct

Each insured employee shall contribute to the cost of his insurance an amount to be determined by the Board but not to exceed the rate of $0.70 per month for each $1,000 of annual salary. If the annual salary is not an even multiple of $1,000, annual salary shall be considered to be the next higher $1,000. The employer shall deduct the premium from the salary payable to the insured employee. An employee who is paid on other than a monthly basis shall have an amount deducted at a proportionate rate, adjusted to the nearest cent. All deductions shall be retained by or paid to the State Treasurer to the credit of the Board and shall be available to the Board for the purposes of carrying out the provisions of this chapter. Nothing contained in this section shall prohibit any employer from making the contributions required herein for his employees, in whole or in part.
If the premium is not deducted from the employee's salary and the failure to deduct is not the fault of the employee, the employee shall be insured and the employee shall not be required to pay the amount which should have been deducted.
Employees retired for service or disability shall not be required to contribute to the cost of their life insurance. If an employee is separated from the service of any public institution of higher education or of any local school board prior to completing a school year, the premiums paid shall be accepted and retained as proper to date of separation. If a state employee of a public institution of higher education or a teaching hospital affiliated with a public institution of higher education (i) is employed pursuant to a contract (a) that is for a term of employment of at least nine months and (b) that does not coincide with the normal scholastic year, and (ii) separated from service prior to completing the contract year, the premiums paid shall be accepted and retained as proper to the date of separation.
1960, c. 604, §§ 51-111.67:5, 51-111.67:6; 1962, c. 43; 1966, c. 174; 1972, c. 841; 1974, c. 353; 1975, c. 597; 1980, c. 595; 1990, c. 832; 2005, cc. 933, 945.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-507. Notice of desire not to be insured

Any policy of insurance purchased under the authority of this chapter shall provide that all eligible employees shall be automatically insured. Any employee who notified his employer that he desired not to be insured, or any employee of a political subdivision who notified his employer prior to the effective date of coverage that he desired not to be insured, may thereafter become insured only upon presentation at his own expense of evidence of insurability satisfactory to the insuring company.
1960, c. 604, § 51-111.67:6; 1962, c. 43; 1966, c. 174; 1974, c. 353; 1975, c. 597; 1980, c. 595; 1990, c. 832.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-508. Employer contributions

Employers, other than the Commonwealth, shall pay to the Board the percentage of the premiums or charges not paid for by employee contributions. Employees paid from special funds shall have their employer contributions paid from such funds.
1960, c. 604, § 51-111.67:9; 1990, c. 832.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-509. Keeping records and furnishing information required by Board

Each employer, whose employees are insured under the provisions of this chapter, shall keep records and furnish information required by the Board.
1960, c. 604, § 51-111.67:12; 1990, c. 832.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-510. Insurance exempt from process

A. The insurance provided for in this chapter, including any optional insurance, and all proceeds therefrom shall be exempt from levy, garnishment, and other legal process, except (i) as provided in subsection B and (ii) for administrative actions pursuant to Chapter 19 (§ 63.2-1900 et seq.) of Title 63.2 or any court process to enforce a child or child and spousal support obligation. However, the insured may make a voluntary, irrevocable assignment of his group life insurance and any individual conversion policy that may be issued upon termination of his group life insurance by executing an assignment on a form prepared by the Board of Trustees of the Virginia Retirement System.
B. From any insurance proceeds payable pursuant to this chapter to a retiree's beneficiaries, the Board may deduct any overpayment of retirement allowance paid to such retiree.
1960, c. 604, § 51-111.67:8; 1980, c. 643, § 51-111.67:12.1; 1990, c. 832; 1994, c. 883; 1997, c. 273; 2008, c. 354.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-511. Persons entitled to payment of insurance on employee's death

Any amount of group life, accidental death, and dismemberment insurance in force on any employee at the date of his death shall be paid, upon the establishment of a valid claim therefor, to the beneficiary designated by the employee under the provisions of the Virginia Retirement System or other retirement system administered by the Board, unless the employee has designated and filed with the Board on a form prepared by the Board, a different beneficiary of his group life, accidental death, and dismemberment insurance. If no beneficiary has been designated by the employee, or if the death of the designated person occurs prior to the death of the member and another designation has not been made, the proceeds shall be paid to the persons surviving at the date of his death, in the same order of precedence as set forth in subsection A of § 51.1-162.
Payment which otherwise would be made to the estate of an employee may be made in accordance with the provisions of § 64.2-601 or 64.2-602.
1960, c. 604, § 51-111.67:10; 1986, c. 474; 1990, c. 832; 2002, c. 313; 2010, c. 269.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-513.1. Long-term care insurance

The Department of Human Resource Management is authorized to develop, implement, and administer a long-term care insurance program. The program shall be coordinated with any disability, life, or other insurance program administered under this title. The Department of Human Resource Management is authorized to contract for and purchase such coverage or use other actuarially sound funding necessary to effectuate this provision.
1999, c. 5; 2000, cc. 66, 657.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-513.2. Long-term care coverage program

A. The Board shall maintain and administer a long-term care coverage or similar benefit program for any state employee working an average of at least 20 hours per week, and for any other person who has five or more years of creditable service with any retirement plan administered by the Virginia Retirement System. The long-term care coverage program may also extend coverage to eligible family members of such state employee or other person. The Board is authorized to contract for and purchase insurance coverage or to use other actuarially sound funding necessary to effectuate this provision. Participation in the long-term care coverage program shall be voluntary, subject to policies and procedures adopted by the Board.
B. Any person eligible to participate in the long-term care coverage program pursuant to § 51.1-513.3 will not be eligible for this plan.
C. Notwithstanding the provisions of subsection A, the Board may self-insure long-term care benefits provided under § 51.1-513.2 or 51.1-513.3 in accordance with the standards set forth in § 51.1-124.30.
2008, c. 568; 2011, c. 722; 2018, cc. 53, 305.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-513.3. Long-term care insurance program for employees of local governments, local officers, and teachers

A. The Board shall maintain and administer a plan or plans, hereinafter "plan" or "plans," for providing long-term care coverage or a similar benefit program for employees of local governments, local officers, and teachers. The plan or plans may also extend coverage to eligible family members of such employees of local governments, local officers, or teachers. The plan or plans may, but need not, be rated separately from any plan developed to provide long-term care coverage for state employees under § 51.1-513.2. Participation in such insurance plan or plans shall be (i) voluntary, (ii) approved by the participant's respective governing body, or by the local school board in the case of teachers, and (iii) subject to policies and procedures adopted by the Board.
B. For the purposes of this section:
"Employees of local governments" shall include all officers and employees, working an average of at least 20 hours per week, of the governing body of any county, city, or town, and the directing or governing body of any political entity, subdivision, branch or unit of the Commonwealth or of any commission or public authority or body corporate created by or under an act of the General Assembly specifying the power or powers, privileges or authority capable of exercise by the commission or public authority or body corporate, as distinguished from § 15.2-1300 or 15.2-1303 or similar statutes, provided that the officers and employees of a social services department; welfare board; community services board or behavioral health authority; or library board of a county, city, or town shall be deemed to be employees of local government.
"Local officer" means the treasurer, registrar, commissioner of the revenue, attorney for the Commonwealth, clerk of a circuit court, sheriff, or constable of any county or city or deputies or employees, working an average of at least 20 hours per week, of any of the preceding local officers.
"Teacher" means any employee of a county, city, or other local public school board working an average of at least 20 hours per week.
2008, c. 568; 2011, c. 722; 2012, cc. 476, 507; 2018, cc. 53, 305.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-513.4. Trust fund for long-term care programs

The Board is authorized to establish a trust fund in connection with the long-term care insurance programs administered under §§ 51.1-513.2 and 51.1-513.3. The costs incurred by the Board in administering such long-term care insurance programs including the provision of case management and cost containment programs, shall be withdrawn from time to time by the Board from the trust fund. Any trust fund established by the Board under this section shall be deemed a separate and independent trust fund, shall be segregated from all other funds of the Commonwealth, and shall be invested and administered solely in the interests of the participants and beneficiaries thereof. Neither the General Assembly nor any public officer, employee, or agency shall use or authorize the use of such trust funds for any purpose other than as provided in law for benefits, refunds, and administrative expenses, including but not limited to legislative oversight of the long-term care insurance programs administered under §§ 51.1-513.2 and 51.1-513.3.
2008, c. 568.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 5 - Group Insurance Program › § 51.1-514. Policies to provide for accounting to Board; advance premium deposit reserve

A. Each policy purchased by the Board shall provide for an accounting to the Board not later than 120 days after the end of each policy year. The accounting shall include (i) the amounts of premiums actually accrued under the policy during the policy year, (ii) the total amount of all mortality and other claim charges incurred during the policy year, and (iii) the amounts of the insurer's expenses and risk charges for the policy year.
B. Any portion of the excess of the total of item (i) over the sum of items (ii) and (iii) may, with the approval of the Board, be held by the insurance company in an advance premium deposit reserve to be used by the company for charges under the policy only. Any expenses incurred by the Board on behalf of the group insurance program may be deducted from the advance premium deposit reserve. The advance premium deposit reserve shall bear interest at a rate to be determined in advance of each policy year by the insurance company. The rate shall be subject to Board approval as being consistent with the rates generally used by the company for similar funds held under other group life insurance policies. Any portion of the excess not held by the insurance company shall be held by the Board to be used for charges under the policy only. If the Board determines that the advance premium deposit reserve, together with any portion of the excess accumulated and held by the Board, has attained an amount estimated to make satisfactory provision for adverse fluctuations in future charges under the policy, any further excess shall inure to the benefit of the Commonwealth and other employers participating in the group insurance program as determined by the Board.
C. For purposes of this section, the insurance company may combine and consolidate the policies issued by it as directed by the Board.
1960, c. 604, § 51-111.67:7; 1970, c. 476; 1973, c. 523; 1978, c. 841; 1983, c. 457; 1990, c. 832; 1991, c. 700; 1997, c. 273.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6 - Government Employees Deferred Compensation Plan Act › § 51.1-600. Definitions

As used in this chapter, unless the context requires a different meaning:
"Act" means the Government Employees Deferred Compensation Plan Act.
"Board" means the Board of Trustees of the Virginia Retirement System.
"Deferred compensation plan" means a plan established pursuant to the provisions of § 457(b) of the Internal Revenue Code of 1986, as amended, that may provide for elective and non-elective deferrals of compensation by or on behalf of employees and may include a qualified Roth contribution program as described in § 402A of the Internal Revenue Code of 1986, as amended.
"Employee" means, in the case of the plan described in § 51.1-602, all persons employed by a participating employer, including appointed or elected officials. In the case of a plan adopted by a county, municipality, authority or other political subdivision pursuant to § 51.1-603, an employee shall be defined by such county, municipality, authority or other political subdivision, subject to the approval of the Board.
"Participating employer" means the Commonwealth or any political subdivision that has elected pursuant to § 51.1-603.1 to participate in the deferred compensation plan established by the Board pursuant to this chapter.
1974, c. 461, § 51-111.67:15; 1987, c. 619; 1990, c. 832; 1992, c. 276; 1999, cc. 980, 984; 2002, c. 311; 2007, c. 253; 2014, cc. 356, 747.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6 - Government Employees Deferred Compensation Plan Act › § 51.1-601. Contract for deferred compensation

In accordance with a plan of deferred compensation, the Commonwealth, or any state agency, county, municipality, authority, or other political subdivision may contract with any employee to defer all or any portion of that employee's otherwise payable compensation and, pursuant to the terms of the plan and in such proportions as may be designated or directed under the plan, place such deferred compensation in investment products selected by the Commonwealth and its agencies, county, municipality, authority, or other political subdivision. All investment products shall be offered in compliance with applicable federal and state laws and regulations by persons who are duly authorized by applicable state and federal authorities.
1974, c. 461, § 51-111.67:16; 1987, c. 619; 1990, c. 832; 1992, c. 276; 2002, c. 311; 2007, c. 253.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6 - Government Employees Deferred Compensation Plan Act › § 51.1-601.1. Participation in plan by certain employees

All employees of the Commonwealth and its agencies commencing employment or who are reemployed on or after January 1, 2008, in a position covered by the Virginia Retirement System, and who (i) have not elected to participate in a plan established pursuant to § 403(b) of the Internal Revenue Code of 1986, as amended, or (ii) do not participate in the hybrid retirement program described in § 51.1-169, shall participate in the plan described in § 51.1-602, unless such employee elects, in a manner prescribed by the Board, not to participate in such plan. The amount of the deferral for any such employee participating in the plan shall equal, on a semimonthly basis, $20 of otherwise payable compensation, unless the employee elects to defer a different amount.
2007, c. 253; 2012, cc. 701, 823; 2013, c. 463.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6 - Government Employees Deferred Compensation Plan Act › § 51.1-602. Deferred compensation plan for employees of the Commonwealth; administered by the Board

A. The Board shall establish and administer a deferred compensation plan for employees of the Commonwealth and its agencies. The Virginia Retirement System Director shall be the chief administrative officer of the plan. The Board may contract with private corporations or institutions subject to the standards set forth in § 51.1-124.30 to provide investment products as well as any other goods and services related to the administration of the deferred compensation plan. The Virginia Retirement System is hereby authorized to perform related services including, but not limited to, providing consolidated billing, individual and collective record keeping and accountings, and asset purchase, control, and safekeeping. In accordance with such plan, and upon contract or agreement with an eligible employee, deferrals of compensation may be accomplished by payroll deductions made by the appropriate officer of the Commonwealth, with such funds being thereafter held and administered in accordance with the plan. Administrative fees related to the VRS program oversight that otherwise would be charged to an employee participating in the plan shall be paid by the participating employer under procedures established by the Board. Any political subdivision participating in the plan pursuant to § 51.1-603.1 may collect the administrative fee imposed by the Virginia Retirement System from employees participating in the plan.
B. If it deems it advisable, the Board may create a trust or other special fund for the segregation of the funds or assets resulting from compensation deferred at the request of employees of the Commonwealth or its agencies and for the implementation of such program.
C. The Department of Accounts shall be responsible for the (i) accounting and reconciliations associated with state employees' contributions to the plan through payroll deductions and (ii) timely transfer of withheld funds to the private corporation or institution designated by the Board pursuant to subsection A. However, any state agency that has decentralized its payroll function and any political subdivision of the Commonwealth participating in the plan pursuant to § 51.1-603.1 shall be responsible for the (i) accounting and reconciliations associated with their employees' contributions to the plan through payroll deductions and (ii) timely transfer of withheld funds to the private corporation or institution designated by the Board pursuant to subsection A.
1974, c. 461, § 51-111.67:17; 1984, cc. 662, 746; 1985, c. 448; 1987, c. 619; 1990, c. 832; 1992, c. 276; 1997, c. 174; 1998, c. 658; 2000, c. 395; 2004, c. 86; 2008, c. 245.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6 - Government Employees Deferred Compensation Plan Act › § 51.1-603. Local deferred compensation plans

A. Any county, municipality, authority, or other political subdivision of the Commonwealth may by ordinance or resolution adopt and establish for itself and its employees a deferred compensation plan. Any such deferred compensation plan may include constitutional officers and their employees. The ordinance or resolution adopting or establishing such plan shall create or designate an appropriate board or officer to administer the plan, and shall confer upon such board or officer the authority to do all things by way of supervision, administration, and implementation of the plan, including the power to contract with private corporations or institutions for services in connection therewith. The deferral of compensation may be accomplished by payroll deductions by the appropriate officer of the county, municipality, authority, or other political subdivision.
B. If it deems it advisable, any county, municipality, authority, or other political subdivision of the Commonwealth, which by ordinance or resolution adopts and establishes for itself and its employees a deferred compensation plan, may (i) create a trust or other special fund for the segregation of the funds or assets resulting from compensation deferred at the request of its employees for the implementation of such plan or (ii) provide that its employees who commence employment or reemployment on or after a specified date, and who have not affirmatively elected to participate in such deferred compensation plan or in a plan established by such political subdivision pursuant to § 403(b) of the Internal Revenue Code of 1986, as amended, shall participate in either such deferred compensation plan or 403(b) plan, as determined by the political subdivision, at such initial default amount or rate of deferral as it may determine, unless such employee elects, in a manner prescribed by the plan administrator, not to participate in the plan.
1974, c. 461, § 51-111.67:18; 1982, c. 364; 1987, c. 619; 1990, c. 832; 1991, c. 379; 1997, c. 174; 2012, c. 660.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6 - Government Employees Deferred Compensation Plan Act › § 51.1-603.1. Participation by employees of political subdivisions in deferred compensation plan of Virginia Retirement System

A. The Virginia Retirement System may enter into an agreement with any political subdivision of the Commonwealth to permit participation by the political subdivision's employees in the deferred compensation plan established and administered by the Board pursuant to § 51.1-602, except that political subdivisions of the Commonwealth otherwise participating in the retirement system pursuant to Article 5 (§ 51.1-130 et seq.) of Chapter 1 shall participate in the deferred compensation plan established and administered by the Board pursuant to § 51.1-602 to the extent necessary to provide benefits under the hybrid retirement program described in § 51.1-169.
B. The political subdivision may provide in the agreement that its employees who (i) commence employment or reemployment on or after a specified date occurring on or after the effective date of this provision in the agreement, (ii) are not participating in the hybrid retirement program described in § 51.1-169, and (iii) have not affirmatively elected to participate in the plan described in § 51.1-602 or a plan established by such political subdivision pursuant to § 403(b) of the Internal Revenue Code of 1986, as amended, shall participate in either such plan described in § 51.1-602 or a 403(b) plan, as determined by the political subdivision, unless such employee elects, in a manner prescribed by the Board, not to participate in such plan. The amount of the deferral for any such employee participating in the plan shall equal, on a semimonthly basis, $20 of otherwise payable compensation, unless the employee elects to defer a greater amount.
1997, c. 174; 2012, cc. 660, 701, 823; 2013, c. 463.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6 - Government Employees Deferred Compensation Plan Act › § 51.1-604. Standards for deferred compensation plans

No deferred compensation plan shall become effective until the Board, county, municipality, authority or other political subdivision of the Commonwealth is satisfied, by opinion of its respective counsel, such federal agency or agencies as may be deemed necessary, or otherwise, that the contributions thereunder and/or the investment products purchased pursuant to the plan (i) will not be included in the employee's taxable income under federal or state law until it is actually received by the employee under the terms of the plan, provided that such contributions will nonetheless be deemed compensation at the time of deferral for the purposes of social security coverage, for the purposes of the Virginia Retirement System, and for any other retirement, pension, or benefit program established by law, or (ii) are designated Roth contributions as defined in § 402A of the Internal Revenue Code of 1986, as amended.
1974, c. 461, § 51-111.67:19; 1987, c. 619; 1990, c. 832; 1992, c. 276; 2002, c. 311; 2014, c. 747.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6 - Government Employees Deferred Compensation Plan Act › § 51.1-605. Other retirement, pension, etc., systems not affected; annual report

Any deferred compensation program established by this chapter, and any plan adopted hereunder, shall exist and serve in addition to any other retirement, pension, or benefit system established by the Commonwealth, its agencies, counties, municipalities, authorities, or other political subdivisions, and shall not supersede, make inoperative, or reduce any benefits provided by the Virginia Retirement System or by any other retirement, pension, or benefit program established by law.
The Virginia Retirement System shall submit an annual report to the Governor and the General Assembly advising them of the condition of the Commonwealth's fund and all operational costs associated with such fund. This report shall be submitted annually on or before December 31.
The Board shall have the authority to establish a plan pursuant to § 401 (a) or § 403 (b) of the Internal Revenue Code of 1986, as amended, for the purpose of implementation of this section.
1974, c. 461, § 51-111.67:20; 1987, c. 619; 1990, c. 832; 1992, c. 276; 2002, c. 311; 2006, c. 66.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6.1 - Cash Match Plan › § 51.1-607. Definitions

As used in this chapter, unless the context requires a different meaning:
"Board" means the Board of Trustees of the Virginia Retirement System.
"Cash match plan" means a plan established pursuant to the provisions of § 401 (a) of the Internal Revenue Code of 1986, as amended, to which a participating employer contributes based on contributions made by an employee to a deferred compensation plan or to a plan established pursuant to § 403 (b) of the Internal Revenue Code of 1986, as amended. Alternatively, if the Board determines that it is appropriate, such plan may be established pursuant to § 403 (b) of the Internal Revenue Code of 1986, as amended.
"Deferred compensation plan" means a plan described in Chapter 6 (§ 51.1-600 et seq.) of this title.
"Employee" means, in the case of the plan described in § 51.1-608, any salaried person, including appointed or elected officials, providing services for a participating employer. In the case of a plan adopted by a county, municipality, authority or other political subdivision pursuant to § 51.1-610, an employee shall be defined by such county, municipality, authority or other political subdivision, subject to the approval of the Board.
"Participating employer" means the Commonwealth or any political subdivision that has elected pursuant to § 51.1-603.1 to participate in the deferred compensation plan established by the Board pursuant to Chapter 6 (§ 51.1-600 et seq.) of this title or a sponsor of a plan established pursuant to § 403 (b) of the Internal Revenue Code of 1986, as amended.
"Qualified participant" means, in the case of a plan established pursuant to § 51.1-608, an employee of a participating employer who is making continuous deferrals of at least ten dollars per pay period to the deferred compensation plan established by the Board pursuant to Chapter 6 (§ 51.1-600 et seq.) of this title or to a plan established pursuant to § 403 (b) of the Internal Revenue Code of 1986, as amended. The determination of whether an employee is making continuous deferrals shall be made by the Board. In the case of a plan established pursuant to subsection D of § 51.1-608 or § 51.1-610, qualified participant means an employee described by the governing body establishing such plan in the documents setting forth the details of such plan.
2002, c. 311; 2014, c. 356.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6.1 - Cash Match Plan › § 51.1-608. Cash match plan for employees of the Commonwealth; administered by the Board

A. The Board shall establish and administer a cash match plan for employees of the Commonwealth and its agencies. The Virginia Retirement System Director shall be the chief administrative officer of the plan. The Board may contract with private corporations or institutions subject to the standards set forth in § 51.1-124.30 to provide investment products as well as any other goods and services related to the administration of the cash match plan. The Virginia Retirement System is hereby authorized to perform related services including, but not limited to, providing consolidated billing, individual and collective recordkeeping and accountings, and asset purchase, control, and safekeeping. Administrative fees related to the Virginia Retirement System Program oversight shall be paid by the participating employer under procedures established by the Board.
B. If it deems it advisable, the Board may create a trust or other special fund for the segregation of the funds or assets resulting from contributions made on behalf of qualified participants.
C. The Department of Accounts shall be responsible for the timely transfer of the matching contributions to the private corporation or institution designated by the Board pursuant to subsection A. However, any state agency that has decentralized its payroll function and any political subdivision of the Commonwealth participating in the plan pursuant to § 51.1-611 shall be responsible for the timely transfer of matching contributions to the private corporation or institution designated by the Board pursuant to subsection A.
D. Alternatively, agencies of the Commonwealth that sponsor or maintain programs described in § 403 (b) of the Internal Revenue Code of 1986, as amended, may establish separate cash match plans with the consent of the Board in lieu of participation in the plan established pursuant to this section.
2002, c. 311; 2006, c. 756; 2008, cc. 29, 245.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6.1 - Cash Match Plan › § 51.1-609. Contributions on behalf of qualified participants

A. A participating employer or, on behalf of the Commonwealth, the Department of Accounts or any agency of the Commonwealth not covered under the central payroll system, shall transfer funds from its appropriations to the private corporation or institution designated to hold investments under the plan or plans adopted or established by the participating employer pursuant to § 401(a) or § 403(b) of the Internal Revenue Code of 1986, as amended. The funds shall be held, administered and invested as provided for in the applicable document adopted for the administration of such contributions.
B. The amount credited on behalf of a qualified participant pursuant to this section shall not exceed, on a semimonthly basis, the lesser of fifty dollars or fifty percent of the amount that the qualified participant voluntarily contributes to the deferred compensation plan established under this chapter or to a plan established pursuant to § 403(b) of the Internal Revenue Code of 1986, as amended, unless otherwise determined by the General Assembly through the appropriations process. The amount credited pursuant to this section on behalf of a qualified participant who is an employee of a participating employer other than the Commonwealth shall be a discretionary amount determined by the participating employer's governing body from time to time.
C. No amount shall be credited pursuant to subsection B on behalf of a qualified participant who is participating in the hybrid retirement program described in § 51.1-169 if the qualified participant has not contributed the maximum amount of voluntary contributions under subdivision C 2 of § 51.1-169.
2002, c. 311; 2013, c. 463.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6.1 - Cash Match Plan › § 51.1-610. Local cash match plans

A. Any county, municipality, authority, or other political subdivision of the Commonwealth may by ordinance or resolution adopt and establish for itself and its employees a cash match plan. Any such cash match plan may include constitutional officers and their employees. The ordinance or resolution adopting or establishing such plan shall create or designate an appropriate board or officer to administer the plan, and shall confer upon such board or officer the authority to do all things by way of supervision, administration, and implementation of the plan, including the power to contract with private corporations or institutions for services in connection therewith.
B. If it deems it advisable, any county, municipality, authority, or other political subdivision of the Commonwealth, which by ordinance or resolution adopts and establishes for itself and its employees a cash match plan, may create a trust or other special fund for the segregation of the funds or assets resulting from contributions.
2002, c. 311; 2013, c. 463; 2015, cc. 538, 539.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6.1 - Cash Match Plan › § 51.1-611. Participation by employees of political subdivisions in cash match plan of Virginia Retirement System

The Virginia Retirement System may enter into an agreement with any political subdivision of the Commonwealth to permit participation by the political subdivision's employees in the cash match plan established and administered by the Board pursuant to § 51.1-607, except that political subdivisions of the Commonwealth otherwise participating in the retirement system pursuant to Article 5 (§ 51.1-130 et seq.) of Chapter 1 shall participate in the cash match plan established and administered by the Board pursuant to § 51.1-608 to the extent necessary to provide benefits under the hybrid retirement program described in § 51.1-169.
2002, c. 311; 2012, cc. 701, 823.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6.1 - Cash Match Plan › § 51.1-612. Standards for cash match plans

No cash match plan shall become effective until the Board, county, municipality, authority or other political subdivision of the Commonwealth is satisfied, by opinion of its respective counsel, such federal agency or agencies as may be deemed necessary, or otherwise, that the contribution thereunder or the investment products purchased pursuant to the plan (i) will not be included in the employee's taxable income under federal or state law until it is actually received by the employee under the terms of the plan and (ii) that such contribution will not be deemed compensation at the time of the contribution for the purposes of social security coverage, for the purposes of the Virginia Retirement System, and for any other retirement, pension, or benefit program established by law.
2002, c. 311.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6.1 - Cash Match Plan › § 51.1-613. Other retirement, pension, etc., systems not affected; annual report

Any cash match program established by this chapter, and any plan adopted hereunder, shall exist and serve in addition to any other retirement, pension, or benefit system established by the Commonwealth, its agencies, counties, municipalities, authority, or other political subdivisions, and shall not supersede, make inoperative, or reduce any benefits provided by the Virginia Retirement System or by any other retirement, pension, or benefit program established by law.
The Virginia Retirement System shall submit an annual report to the Governor and the General Assembly advising them of the condition of the fund administered by the Virginia Retirement System and all operational costs associated with such fund.
2002, c. 311.
2023 Code of Virginia › Title 51.1 - Pensions, Benefits, and Retirement › Chapter 6.2 - Public School Teacher Supplemental Retirement › § 51.1-617. Definitions

As used in this chapter, unless the context requires a different meaning:
"Board" means the Board of Trustees of the Virginia Retirement System.
"Eligible employee" means any turnaround specialist or member of the middle school teacher corps providing services for a participating public school division pursuant to subsections E and F of § 22.1-199.1.
"Participating employer" means any local public school board that offers and pays the costs of improved retirement benefits as described in subsections E and F of § 22.1-199.1.
"Plan" means the defined contribution plan established pursuant to this chapter and the provisions of § 401 (a) of the Internal Revenue Code of 1986, as amended.
"Qualified participant" means an eligible employee of a participating employer.
2004, c. 436; 2020, cc. 860, 861.