CHAPTER 245

An Act to authorize certain counties to establish and maintain a system
of pensions, retirement allowances and death benefits for their
officers and employees, prescribing how funds may be provided for
the maintenance and operation of such system, authorizing the
prescribing of rules and regulations for the management, investment
and administration of any such funds, and providing certain exemp-
tions from taxation and from legal process in connection with the
operation of such system.

[H 353]

Approved March 8, 1952

Be it enacted by the General Assembly of Virginia:
1. § 1. The governing body of any county having the county manager
form of organization and government under Chapter 11 of Title 15 of
the Code of Virginia is hereby authorized and empowered to create and
establish a retirement and pension plan for the officers and employees
of such county. The retirement and pension plan may be established by
the said governing body upon the adoption of a resolution which, among
other things, shall provide therein the effective date of the plan, the rules
or conditions for participation therein, and the basis of calculation of
amounts of benefits which may become payable thereunder.

§ 2. The resolution may provide that membership in the retire-
ment plan shall be compulsory for such officers and employees of such
county as shall be so designated in the resolution; that each employee
who is a member of the retirement plan shall contribute to the retirement
fund by payroll deduction a percentage of the compensation paid by such
county for services rendered, the amount of such percentage deduction
to be stated in the resolution; that the county may contribute and pay
the additional costs of the plan, taking into account the actuarial cost
of the benefits provided by the plan and such operational cost as may
be necessary. Such county may contribute the entire cost of benefits based
on any prior continuous service rendered to the county by any person
employed by the county as of the date of adoption of said plan on such
basis as may be designated by such resolution.

§ 3. Immediately upon the retirement plan being established and
put into operation, the governing body of such county may make the
necessary appropriation for the cost of maintaining the plan on a sound
and solvent actuarial basis, including such operational cost as may be
necessary, and may thereafter and at such times as is necessary appropriate
such sums of money as are adequate and necessary to keep the funds
of said retirement plan on a sound and solvent actuarial basis, based on
the cost of the benefits as provided in the plan, and if necessary, levy
taxes therefore as a special and necessary purpose in addition to any tax
allowed by any special statute. Such appropriations and the levying of
taxes, if necessary for the purposes herein set forth, are hereby declared
to be for necessary expenses of such county and are, in all respects,
authorized and approved.

§ 4. The resolution may provide that the general administration
and responsibility for the operation of the retirement plan and for making
effective the provisions of same, including the payment of all benefits to
participating employees and their beneficiaries, be vested in a pension
committee and may delegate to the pension committee such powers and
duties as may be deemed necessary to carry out the intent and purpose
for which said retirement plan is established.

§ 5. The governing body of such county may in said resolution
provide for all assets of the retirement fund to be held in a trust forming
a part of the retirement plan and may appoint a trustee and enter into an
appropriate agreement with said trustee for the purpose of its adminis-
tering the assets of the retirement fund in accordance with the terms of
the plan.

§ 6. The governing body of such county may reserve the right to
amend, suspend or revoke the retirement plan and trust at any time, but
any amendment, suspension or revocation shall not have the effect of
diverting the trust fund to purposes other than the exclusive benefit of
the participating employees or their beneficiaries until all liability for
accrued benefits payable under the terms of the plan shall have been
fully satisfied.

7. The retirement fund or other benefits mentioned in this act
shall not be assignable either in law or equity or be subject to execution,
levy, sale, attachment, garnishment, or other legal process, and shall
be exempt from any State or municipal tax.
§ 8. The governing body of such county may provide for the pay-

ment of benefits as set forth in the plan by contracting with any insur-
ance company, or may contract with any person, firm or corporation for
the performance of any service in connection with the establishment
of said fund, or for the investment, care or administration of said fund,
or for any other service relating thereto.
2. All laws and parts of laws in conflict with this act are hereby repealed
to the extent of such conflict.
3. An emergency exists and this act is in force from its passage.