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Virginia · Through 9/4/2026 · Newer source version available

Va. Code § 51.1-601.1: Participation in plan by certain employees

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Where this section sits in the code
  1. Title 51.1. PENSIONS, BENEFITS, AND RETIREMENT
  2. Chapter 6. GOVERNMENT EMPLOYEES DEFERRED COMPENSATION PLAN ACT

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.

Collected 2026-09-04T15:17:04Z. Source file · JSON

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