Chap. 276.—An ACT to amend and re-enact Section 8 as amended of Chapter
325 of the Acts of Assembly of 1942, approved March 31, 1942, known as the
“Virginia Retirement Act,” relating to service retirement of members of the
Virginia Retirement System. [S B 219}

Approved March 26, 1946

Be it enacted by the General Assembly of Virginia:

1. That section eight, as amended, of chapter three hundred
twenty-five of the Acts of Assembly of nineteen hundred forty-two, ap-
proved March thirty-one, nineteen hundred forty-two, known as the
“Virginia Retirement Acts,” be amended and re-enacted, as follows:

Section 8. Service Retirement.——(a) Any member in service may
retire upon written notification to the Board, made by the member or
by his employer, setting forth at what time, not less than thirty nor more
than ninety days subsequent to the filing of such notification, the retire-
ment is to become effective, provided that such member at the time so
specified for his retirement has attained sixty-five years of age, or, in the
case of a teacher in service prior to July first, nineteen hundred and forty-
two, has complied with the requirement for retirement set forth in chapter
thirty-six of the Code of Virginia as it existed immediately prior to the
passage of this act, nothwithstanding that during such period of notifica-
tion he has separated from service.

(b) Any member who has attained seventy years of age before the
date of establishment of the retirement system, or who attains seventy
years of age on or after such date, shall be retired forthwith; provided
that, upon the request of his employer in the case of a teacher, or the
head of the department, institution or agency by which he 1s employed,
in the case of a State employee, he may remain in service not longer than
the last day of the fiscal year during which he attains seventy years of
age, or if he is a State officer appointed by the Governor he may, 1n the
discretion of the Governor, be retained in service during such period or
periods for which he may be appointed by the Governor. Notwithstand-
ing the foregoing provisions, however, until the conclusion of the war in
which the United States is engaged at the time of the enactment of this
act, upon the request of his employer, in the case of a teacher, or of the
head of the department, institution, or agency by which he is employed,
in the case of a State employee, such member may remain in service for
such period or periods as may be determined by such employer or depart-
ment, institution or agency head, with the approval of the Board, if such
member is mentally and physically able to perform his duties efficiently,
but, upon conclusion of the said war, any member so remaining in service
shall be retired forthwith.

It is further provided that any State employee seventy years of age
or more who by reason of long service and experience has become special-
ly fitted to perform the duties of his position, and who, is physically and
mentally capable to perform such duties adequately, may if he so desires,
upon request of the head of the department, institution or agency by
which he is employed, and upon the recommendation of the Board of
Trustees of the Virginia Retirement System, be continued in service for
such period or periods as is determined by the head of such department,
institution or agency, but not more than two years in any event. The
provisions of this paragraph shall not be effective after July one, nine-
teen hundred forty-eight.

(c) Upon retirement as provided in this section a member shall
receive a service retirement allowance which shall consist of:

(1) Any employee annuity which shall be the actuarial equivalent
of his accumulated contributions at the time of his retirement;

(2) A State annuity of one-one hundred sixtieth (1/160) of his
average final compensation multiplied by the number of his years ot
membership service since he last became a member.

(3) If the member has a prior service certificate in full force and
effect, an additional State annuity of one-eightieth (1/80) of his aver-
age final compensation multiplied by the number of years of service cer-
tified on his prior service certificate. This paragraph as hereby amend-
ed shall apply to annuity payments due and payable subsequent to July
first, nineteen hundred forty-five, to members of the Virginia Retirement
System who hereafter retire, and to former members of the Virginia Re-
tirement System who have heretofore retired, but no such retired former
member of the Virginia Retirement System shall be entitled to any in-
creased payment because of this amendment for any period prior to July
first nineteen hundred forty-five.

(4) In the case of a teacher, if the member has a prior service certifi-
cate in full force and effect, an additional State annuity which shall be
the actuarial equivalent of the aggregate amount of all contributions made
by him, or on his behalf, under the provisions of chapter thirty-six of the
Code of Virginia as it existed immediately prior to the passage of this act,
as though such aggregate amount had been paid into the State annuity
accumulation fund on the date of establishment of the retirement system
and credited to the individual account of such member at regular interest.

If a teacher retires after thirty years of creditable service and prior
to his attaining age sixty-five, in lieu of the State annuity and the addi-
tional State annuities which he would have received pursuant to this sec-
tion had he remained in service until attaining sixty-five years of age, he
shall receive a State annuity which shall be the actuarial equivalent of the
said State annuity and additional State annuities computed on the basis
of his attained age at the time of his retirement. In any event, however,
a teacher shall receive, upon retirement under any of the provisions of
this section a total State annuity which shall be at least sufficient to pro-
vide, together with his employee annuity, a service retirement allowance
equal to the pension which he would receive were he pensioned under the
provisions of chapter thirty-six of the Code of Virginia as it existed im-
mediately prior to the passage of this act, subject to the provisions of the
following paragraph.

In no event shall the total State annuity, in the case of any em-
ployee who has a prior service certificate in full force and effect at the
time of his retirement, be more than sufficient to provide, together with
his employee annuity less any excess which hé may have accumulated
pursuant to the provisions of section thirteen, subsection (h), a total
service retirement allowance of more than one-half of his average final
compensation.