§ 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 have not elected to participate in a plan established pursuant to § 403(b) of the Internal Revenue Code of 1986, as amended, 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.)
Sections: Previous 51.1-600 51.1-601 51.1-601.1 51.1-602 51.1-603 51.1-603.1 51.1-604 51.1-605 51.1-606 NextLast modified: April 16, 2009