CHAPTER 400

An Act to amend and reenact §§ 51-111.22, 51-111.27, 51-111.81 as
amended, 51-111.82, and 51-111.88 of the Code of Virginia, the
sections being parts of the Virginia Supplemental Retirement Act
and relating, respectively, to actuarial investigations and valuations,
persons composing membership in the Retirement System, and par-
ticipation of localities in the System.

[H 133]

Approved March 30, 1960

Be it enacted by the General Assembly of Virginia:
1, That §§ 51-111.22, 51-111.27, 51-111.381 as amended, 51-111.32 and
51-111.33 of the Code of Virginia, be amended and reenacted as follows:

§ 51-111.22. At least once in each * five-year period, the Board shall
cause an actuarial investigation to be made of all of the experience under
the retirement system. Pursuant to such investigations the Board shall,
from time to time, revise the actuarial bases of the rates of employer con-
tributions prescribed under this chapter.

The Board shall cause an annual valuation to be made of the assets
and liabilities of the retirement system, other than with respect to em-
ployers under Articles 4, 4.1 and 4.2, in which case the valuation shall
be as provided in the respective Articles, and shall prepare an annual
a of the amounts to be contributed by the employers under this

apter.

The Board shall also publish annually such valuation of the assets
and liabilities and a statement of receipts and disbursements, of the retire-
ment system.

§ 51-111.27. Membership in the retirement system shall consist of
the following:

(1) All persons who become employees after March one, nineteen
hundred fifty-two with the exception of a person who has attained age
sixty and thereafter becomes an employee unless then a member and
being reemployed, and except as otherwise provided in § 51-111.82; and

(2) All persons who are employees upon such date in service or on
leave from service, and all persons not in service and credited with thirty
or more years of service in the abolished system; provided that a person
who is an employee on March one, nineteen hundred fifty-two, but is not
a member of the abolished system because of having elected not to be
included shall become a member of the retirement system only upon elect-
ing coverage therein.

§ 51-111.31. The governing body of any county, city or town, and
the commission, directing or governing body of any political entity, sub-
division, branch or unit of the Commonwealth or of any commission or
public authority or body corporate created by or under an act of the
General Assembly and subdivision of any of the foregoing, may, by reso-
lution legally adopted and approved by the Board, elect to have those of
its officers and employees who are regularly employed full time on a salary
basis, whose tenure is not restricted as to temporary or provisional ap-
pointment, become eligible to participate in the retirement system. Clerks
of the court of record and deputies, or employees of any such officer
shall be included in the coverage group. Acceptance of the employees of
such an employer for membership in the retirement system shall be
optional with the Board and if it shall approve their participation, then
such employees may become members of the retirement system and par-
ticipate therein as provided in the provisions of this article. Notwith-
standing anything to the contrary, employees of such employer who are
members of any retirement, pension or benefit fund partially or wholly
supported by public funds shall not be entitled to become members of the
retirement system on that part of their compensation covered by such
fund except as provided under § 51-111.34; provided that this limitation
shall not apply as to such employees covered by Federal Old Age and
Survivors Insurance under the Social Security * Act. *

§ 51-111.82. Membership in the retirement system for officers and
employees who * become eligible * under the provisions of § 51-111.31
shall be optional with all such employees in * service on the date the
approval is given, irrespective of age. * Any such employee who elects to
joint the retirement system within one calendar year * after such date of
approval, or, in the case of an officer or employee of a political subdivi-
sion for which the date of approval was prior to September one, nineteen
hundred fifty-five who is an attorney for the Commonwealth, treasurer,
commissioner of the revenue, clerk of court, sheriffs compensated on a
fee basis, provided that maximum compensation allowance for the position
is established, sergeant, or a deputy or assistant, elected or appointed, or
an employee of any such officer, prior to July one, nineteen hundred fifty-
eight, shall be entitled to a prior service certificate covering such periods
of * service prior to such date of approval as shall be certified as creditable
service by his employer for service rendered to such employer, or his
predecessor, or the State, or in any other capacity approved by the em-
ployer and the Board *. Thereafter service for such employer on account
of which the employer and member pay contributions, shall be considered
also as creditable service.

§ 51-111.33. Membership in the retirement system shall be com-
pulsory for all employees who are eligible as provided in § 51-111.31 and
who enter service of an employer after the date the approval is given,
provided, however, that any such employee who has attained age sixty at
date of employment by the employer shall not be a member of the retire-
a system, unless, through previous employment, he is already a
member.