Virginia § 51.1-1205 Equivalent distribution

Virginia Statutes

§ 51.1-1205 — Equivalent distribution

Virginia § 51.1-1205

Title 51.1PENSIONS, BENEFITS, AND RETIREMENT

Ch. 12VOLUNTEER FIREFIGHTERS' AND RESCUE SQUAD WORKERS' SERVICE AWARD FUND

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Bluebook

Va. Code Ann. § 51.1-1205 (2026).

Text

Any member who has attained the age of sixty and who has ten years of creditable service as an eligible volunteer shall be entitled to a distribution from the Fund equivalent to the contributions that he has made, the appropriate matching contributions made on his behalf, and any investment gains on such contributions less any losses, provided that such amount shall be reduced by the amount of any distribution to such member under § 51.1-1206. The Board may provide alternative methods of distribution in lieu of a lump sum distribution to members entitled to a service award under this section.

The distributions provided shall be in addition to all pensions or other benefits under any other statutes of the Commonwealth or the United States.

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Any member who has attained the age of sixty and who has ten years of creditable service as an eligible volunteer shall be entitled to a distribution from the Fund equivalent to the contributions that he has made, the appropriate matching contributions made on his behalf, and any investment gains on such contributions less any losses, provided that such amount shall be reduced by the amount of any distribution to such member under § 51.1-1206. The Board may provide alternative methods of distribution in lieu of a lump sum distribution to members entitled to a service award under this section.

The distributions provided shall be in addition to all pensions or other benefits under any other statutes of the Commonwealth or the United States.