2002 Regular Session

HOUSE BILL 1447

File Code: State Pensions and Retirement
Sponsored By:
Chairman, Appropriations Committee
Entitled:
Employees' Retirement System and Employees' Pension System - Deferred Retirement Option Program

Synopsis:

Creating a Deferred Retirement Option Program (DROP) for specified members of specified State systems; establishing eligibility requirements; providing for an application procedure; specifying how participation affects a participant's compensation and benefits; requiring the State Retirement Agency to request a private letter ruling from the Internal Revenue Service that makes specified confirmations; making the Act contingent on receipt of an Internal Revenue Service ruling; etc.

History by Legislative Date

House Action
3/11
First Reading House Rules and Executive Nominations
Motion Rules Suspended for late introduction (Delegate Rawlings) Adopted (127-1)
Referred House Rules and Executive Nominations
3/18
Re-referred Appropriations
3/19
Hearing 3/22 at 1:00 p.m.
3/28
Unfavorable Report by Appropriations
Senate Action
No Action
Bill indexed under the following Subjects:
ADMINISTRATIVE AGENCIES -see also- ELECTRONIC GOVERNMENT
FEDERAL GOVERNMENT
RETIREMENT SYSTEMS -see also- MANDATORY RETIREMENT
STATE EMPLOYEES
Bill affects the following Statutes:
State Personnel and Pensions
( 22-217 , 22-401.1 , 23-215 , 23-401.1 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered
Roll Call Vote (Legislative date is shown):
House
March 11, 2002: Motion Rules Suspended for late introduction (Rawlings) Adopted (127-1)