CHAPTER 64

An Act to amend and reenact § 51-111.10, as amended, of the Code of
Virginia, relating to the meaning of certain words as used in the
Virginia Supplemental Retirement Act, and to amend the Code of
Virginia by adding to Title 51, Chapter 8.2 thereof, an Article 4.1,
containing §§ 51-111.88:1 through 51-111.88:8, providing for the
retirement of certain private school teachers. 'H 10]

Approved September 29, 1956

Be it enacted by the General Assembly of Virginia:

1. That § 51-111.10, as amended, of the Code of Virginia be amended and
reenacted and that the Code of Virginia be amended by adding Article 4.1,
containing §§ 51-111.38:1 through 51-111.38:3, to Chapter 3.2, Title 51,
the amended section and new article being as follows:

§ 51-111.10. Definitions—As used in this chapter unless a different
meaning is plainly required by the context:

(1) “Retirement system” means the Virginia Supplemental Retire-
ment System provided for in § 51-111.11;

(2) “Board” means the board of trustees as provided by § 51-111.17;

(3) “Medical board’ means the board of physicians as provided by
§ 51-111.26;

(4) “Teacher” means any person who is regularly employed on a
salary basis as a professional or clerical employee of a county, city or other
local public school board or of a corporation participating in the retire-
ment system as provided by Article 4.1;

(5) “State employee” means any person who is regularly employed
full time, on a salary basis, whose tenure is not restricted as to temporary
or provisional appointment, in the service of, and whose compensation is
payable, not oftener than semimonthly, in whole or in part, by the Com-
monwealth or any department, institution or agency thereof, except (a)
an officer elected by popular vote or, with the exception of the Auditor of
Public Accounts and the Director of the Division of Statutory Research
and Drafting, by the General Assembly or either House thereof, (b) a trial
justice, county or city treasurer, commissioner of the revenue, Common-
wealth’s attorney, clerk, sheriff, sergeant or constable, and a deputy or
employee of any such officer, and (c) any employee of a political sub-
division of the Commonwealth;

(6) “Employee” means any teacher, State employee, * officer or em-
ployee of a locality participating in the retirement system as provided in
Article 4, or any employee of a corporation participating in the retirement
system as provided in Article 4.1;

(7) “Employer” means Commonwealth, in the case of a State em-
ployee, * the local public school board in the case of a public school teacher,
or the locality or corporation participating in the retirement system as pro-
vided in Articles 4 and 4.1; .

(8) “Member” means any person included in the membership of the
retirement system as provided in this chapter ;

(9) “Service’’ means service as an employee;

(10) “Prior service” means service as an employee rendered prior to
the date of establishment of the retirement system for which credit is
allowable under HW 51-111.39 to 51-111.41, 51-111.63 and 51-111.64 or
service as an employee for such periods as provided in § 51-111.32;

(11) “Membership service’ means service as an employee rendered
while a contributing member of the retirement system except as provided
in §§ 51-111.45, 51-111.57, 51-111.63 and 51-111.64;

(12) “Creditable service” means prior service plus membership serv-
ice for which credit is allowable under this chapter;

(18) “Beneficiary” means any person entitled to receive benefits under
this chapter ;

(14) “Accumulated contributions” means the sum of all amounts de-
ducted from the compensation of a member and credited to his individual
account in the members’ contribution account, together with interest
credited on such amounts and also any other amounts he shall have con-
tributed or transferred thereto including interest credited thereon as
provided in § 51-111.49;

(15) “Creditable compensation” means the full compensation payable

to an employee working the full working time for his position which is
in excess of twelve hundred dollars per annum, except when computing a
disability retirement allowance in which event no exclusion shall apply;
in cases where compensation includes maintenance or other perquisites,
the Board shall fix the value of that part of the compensation not paid in
money ;
(16) “Average final compensation” means the average annual credi-
table compensation of a member during his five highest consecutive years
of creditable service if less than five years; provided, that the retirement
allowance of any person who retired under this chapter between March
one, nineteen hundred fifty-two and June thirty, nineteen hundred fifty-
four shall be recomputed in accordance with this section and such recom-
putation shall be applicable only to allowances payable on and after July
one, nineteen hundred fifty-six;

(17) “Retirement allowance” means the retirement payments to which
a member is entitled as provided in this chapter;

(18) “Actuarial equivalent” means a benefit of equal value when com-
puted upon the basis of such actuarial tables as are adopted by the Board;
7 (19) “Normal retirement date’? means a member’s sixty-fifth birth-

y; an

(20) “Abolished system” means the Virginia Retirement Act, §§ 51-80
to 51-111, repealed by Chapter 1 of the Acts of Assembly of 1952 as of
February one, nineteen hundred fifty-two.

Article 4.1
Participation of Certain Educational Corporations
in Retirement System

§ 51-111.88:1. Any corporation organized after the effective date of
this act for the purpose of providing elementary or secondary education
may by resolution duly adopted by its board of directors and approved by
the Board of Trustees of the Virginia Supplemental Retirement System
elect to have teachers employed by tt become eligible to participate in the
retirement system. Acceptance of the teachers employed by such an em-
ployer for membership in the retirement system shall be optional with
the Board and if it shall approve their participation, then such teachers,
as members of the retirement system, shall participate therein as pro-
vided in the provisions of this chapter.

§ 51-111.88:2. The chief fiscal officer of the employer shall submit
to the Board such information and shall cause to be performed in respect
to the employees of the employer such duties as shall be prescribed by
the Board in order to carry out the provisions of this chapter.

§ 51-111.88:8. The employer contribution rate shall unless otherwise
fized by the Board be the normal and accrued contribution rate deter-
mined as provided in § 51-111.47 for members of the retirement system
qualifying under § 51-111.10 (4). The contributions so computed shall be
certified by the Board to the chief fiscal officer of the employer. The
amounts so certified shall be a charge against the employer. The chief
fiscal officer of each such employer shall pay to the State Treasurer the
amount certified by the Board as payable under this article, including
such charges as the Board may deem necessary to cover costs of adminis-
tration, and the State Treasurer shall credit such amounts to the ap-
propriate accounts of the retirement system.