Virginia SB419 grants one additional year of creditable service for retirement purposes to eligible members.
Virginia SB419 amends the retirement systems to provide one additional year of creditable service for certain individuals. This change applies to retirements on or after July 1, 2027, for members eligible for an unreduced service retirement allowance. The additional year of service will be included in determining eligibility for retirement benefits, regardless of when the service was performed. This applies to members of the Virginia Retirement System, the Judicial Retirement System, or the State Police Officers' Retirement System.
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