CHAPTER 404

An Act to amend and reenact § 51-112, as amended, of the Code of Vir-
ginia, relating to retirement systems of localities.
[H 148]

Approved March 30, 1960

Be it enacted by the General Assembly of Virginia:

1. That § 51-112, as amended, of the Code of Virginia, be amended and
reenacted as follows:

§ 51-112. The governing body of each county, city and town may,
by ordinance adopted by a recorded vote of a majority of the members
elected or of a majority elected to each branch, if there be more than one
branch, establish a system of pensions, including death benefits, covering
injured, retired or superannuated officers and employees of such county,
city or town, and payable to such officers and employees, or their depend-
ents, estates or designated beneficiaries, and to provide for accrued vested
or contractual rights thereunder; and it may through the purchase of
insurance and annuities provide for such pensions, including death bene-
fits, and for group life insurance covering the officers and employees of
such county, city or town, and for group accident and sickness insurance
covering the officers and employees of such county, city or town and their
dependents. Such governing body may by such ordinance establish a fund
for the payment of such pensions, including death benefits, and for the
payment of such insurance and annuity premiums and charges by making
appropriations out of the treasury of the county, city or town or by re-
quiring contributions, payable from time to time through payroll deduc-
tions or otherwise, or by both, or by any other mode not prohibited by law.

Retirement allowances and other benefits accrued or accruing to any
person under the provisions of this section or under the provisions of any
charter granted to any city or town, and the assets of a retirement sys-
tem created under this section or by any charter granted to a city or town
are hereby exempted from any State, county, or municipal tax.
For the purpose of this section the term employees may include teachers
or other employees of city and town school boards.