CHAPTER 1

An Act to repeal Chap 8 of Title 51 of the Code of Virginia and all
amendments thereto which chapter is designated the “Virginia Re-
turement Act’; to continue certain vested rights; to provide for cer-
tain refunds; to appropriate funds; and to repeal certain other os

Approved January 31, 1952

Be it enacted by the General Assembly of Virginia:

1. An emergency exists and, subject to the other provisions of this act,
Chap 3 of Title 51 of the Code of Virginia and all amendments there-
to, designated as the “Virginia Retirement Act” is repealed as of Febru-
ary one, nineteen hundred fifty-two.

2. The repeal of Chap 3 of Title 51 of the Code of Virginia and all
amendments thereto is subject to the following provisos ;

(a) Any person retired for service under such Chapter and receiv-
ing or entitled to receive benefits thereunder prior to its repeal, including
any person covered by ; 51-110 of the Code of Virginia, shall continue to
receive the same or shall continue to be entitled to receive the same to the
same extent and in the same manner as if such Chapter had not been re-
pealed. If any such person shall have elected to take his retirement bene-
fit under one of the options of such Chapter, his beneficiary shall, upon the
death of the retirant, receive such amount as was provided under such
Chapter.

(b) Any beneficiary receiving an allowance as a result of an election
made by a person retiring under such Chapter shall continue to receive
such allowance as under such Chapter provided.

(c) Any person retired for disability under such Chapter and re-
ceiving benefits or entitled to receive benefits thereunder prior to its re-
peal, including any person covered by § 51-110 of the Code of Virginia,
shall, so long as he continues to meet the tests therefor prescribed in such
Chapter, continue to receive the same or shall continue to be entitled to
receive to the same extent and in the same manner as if such Chapter had
not been repealed. At such time as he shall cease to meet such require-
ments his benefits shall cease and as to him the Chapter shall have no fur-
ther application. If any person retired for disability under such Chapter
and receiving benefits thereunder prior to its repeal shall have elected to
take his retirement benefit under one of the options of such Chapter, his
beneficiary shall, upon the death of the retirant, receive such amount as
was provided under such Chapter.

(d) Any person who, as of February one, nineteen hundred fifty-
two, meets the requirements for retirement under Chap 3 of Title 51
of the Code of Virginia but who has not made application for benefits
under such Chapter may make such application and be retired on or before
February fifteen, nineteen hundred fifty-two, as if such Chapter had not
been repealed. He shall thereafter receive benefits to the same extent and
in the same manner as if such Chapter had not been repealed.

(e) If any person having made contributions under such Chapter
dies prior to its repeal but before retiring his accumulated contributions
shall be paid out as he shall have directed in writing. In the absence of
such written direction his accumulated contributions shall be paid to his
estate. This paragraph shall apply also to any person dying subsequent
to repeal but before receiving his contributions.

(f) Interest on members’ accumulated contributions shall cease as
of February one, nineteen hundred fifty-two.

(g) The accumulated contributions of the members shall be set
aside in a trust fund designated as Fund A to be held for refund to the
respective persons or beneficiaries entitled thereto; no interest shall be
allowed. Until refunded or otherwise disposed of, such funds, interests
therein, and rights thereto shall not be subject to legal, judicial or other
process.

(h) Within one year following February one, nineteen hundred fifty-
two, and in any event as soon as reasonably convenient, the accumulated
contributions of the members shall be returned to the persons respectively
entitled thereto, unless the member in writing shall have affirmatively
directed the custodian of such fund to transfer such member’s contribu-
tion to some retirement system which may be established on or after
March one, nineteen hundred fifty-two.

In any event, if no election has been made such member’s contribu-
tions shall be returned to him or, if deceased, to be paid as he shall have
directed. In the absence of such written direction his accumulated con-
tributions shall be paid to his estate.

(1) All accumulated contributions of the State and of any other
employer of retired members under such act required to meet vested rights
shall be set aside in the State Treasury as a trust fund and expended for
no other purpose. Such fund shall be designated Fund B.

(j) The Board of Trustees of the Virginia Retirement System and
the Director thereof are continued in order to provide for the payment of
vested rights, and the return of accumulated contributions under the Vir-
ginia Retirement System abolished by this act and to administer the State
Police Officers Retirement System.