Virginia Senate Joint Resolution 371 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 7-0)
Status: Introduced on January 17 2011 - 25% progression, died in committee
Action: 2011-02-22 - House: Left in Privileges and Elections
Pending: House Privileges and Elections Committee
Text: Latest bill text (Introduced) [HTML]

Constitutional amendment (first resolution); contributions to defined benefit retirement plans maintained for employees. Requires that contributions to defined benefit retirement plans that are maintained for state employees and employees of participating political subdivisions and school divisions be made in strict adherence with contribution rates and times for the payment of the contributions as recommended by the Board of Trustees of the Virginia Retirement System (VRS). Under the resolution, for fiscal years 2013 through 2018 the General Assembly could make contributions at a rate that is less than the VRS recommended contribution rate without any deferred contributions being recognized so long as the contributions are at least equal to certain minimum amounts. In addition, for fiscal years beginning on or after July 1, 2018, the General Assembly could provide for the deferral of all or any portion of such contributions for any fiscal year in which the maximum amount is appropriated from the Revenue Stabilization Fund, by a separate vote of a majority of all the members voting in each house. All contributions deferred would be required to be repaid within 10 years at an annual interest rate equal to the current actuarially calculated long-term rate of return as determined by VRS. The resolution also would require that retirement contributions deferred in 2010 be repaid by June 30, 2022. The resolution also specifies how certain other factors and variables used in setting contribution rates are to be determined.

Constitutional amendment; contributions to defined benefit retirement plans maintained for employee.

Sen. George Barker [D]	Sen. Creigh Deeds [D]	Sen. John Edwards [D]	Sen. Janet Howell [D]
Sen. Ralph Northam [D]	Sen. Phillip Puckett [D]	Sen. Mary Whipple [D]

2011-02-07 - Senate - Senate: Read third time and agreed to by Senate (25-Y 15-N) (Y: 25 N: 15 NV: 0 Abs: 0) [PASS]
2011-02-03 - Senate - Senate: Reading waived (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2011-02-01 - Senate - Senate: Reported from Privileges and Elections (9-Y 4-N 1-A) (Y: 9 N: 4 NV: 0 Abs: 1) [PASS]

Date	Chamber	Action
2011-02-22		House: Left in Privileges and Elections
2011-02-10		House: Assigned P & E sub: #1 Constitutional
2011-02-09		House: Referred to Committee on Privileges and Elections
2011-02-09		House: Placed on Calendar
2011-02-07		Senate: Read third time and agreed to by Senate (25-Y 15-N)
2011-02-04		Senate: Read second time and engrossed
2011-02-03		Senate: Reading waived (39-Y 0-N)
2011-02-01		Senate: Reported from Privileges and Elections (9-Y 4-N 1-A)
2011-01-21		Senate: Assigned to P&E sub: Constitutional Amendments, Reapportionment, Referenda
2011-01-17		Senate: Referred to Committee on Privileges and Elections
2011-01-17		Senate: Presented and ordered printed 11104100D

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?111+sum+SJ371
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?111+ful+SJ371+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?111+vot+S08V0058+SJ0371
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?111+vot+SV0217SJ0371+SJ0371
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?111+vot+SV0284SJ0371+SJ0371