Virginia § 51.1-143.1 Portability of service credit between the Virginia Retirement System and certain political subdivisions of the Commonwealth

Virginia Statutes

§ 51.1-143.1 — Portability of service credit between the Virginia Retirement System and certain political subdivisions of the Commonwealth

Virginia § 51.1-143.1

Title 51.1PENSIONS, BENEFITS, AND RETIREMENT

Ch. 1VIRGINIA RETIREMENT SYSTEM

Art. 6CREDITABLE SERVICE

This text of Virginia § 51.1-143.1 (Portability of service credit between the Virginia Retirement System and certain political subdivisions of the Commonwealth) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 51.1-143.1 (2026).

Text

The Virginia Retirement System may enter into an agreement with any political subdivision of the Commonwealth which has a defined benefit plan that is not supplemental to the Retirement System to permit any vested member of the political subdivision's plan, upon entering service in a covered position and filing a written application with the Retirement System, to purchase service credit, of an amount to be determined by the Board of Trustees, in the Retirement System. The purchase shall be accomplished by and upon the transfer of assets to the Retirement System from the political subdivision's plan as provided in the agreement.

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The Virginia Retirement System may enter into an agreement with any political subdivision of the Commonwealth which has a defined benefit plan that is not supplemental to the Retirement System to permit any vested member of the political subdivision's plan, upon entering service in a covered position and filing a written application with the Retirement System, to purchase service credit, of an amount to be determined by the Board of Trustees, in the Retirement System. The purchase shall be accomplished by and upon the transfer of assets to the Retirement System from the political subdivision's plan as provided in the agreement.