Lawmakers revamp state's retirement s...

Lawmakers revamp state's retirement system

There are 5 comments on the WTVR Richmond story from Mar 23, 2012, titled Lawmakers revamp state's retirement system. In it, WTVR Richmond reports that:

RICHMOND, Va. - Lawmakers concerned that Virginia has dug itself a whole that could prove very difficult to get out of have completely revamped the state's retirement system, the VRS.

Join the discussion below, or Read more at WTVR Richmond.

Since: Feb 10

Midlothian, VA

#1 Mar 24, 2012
"The myriad changes, that still need to be approved by Governor Bob McDonnell, would reduce benefit packages for recent or new hires, introduce a hybrid, 401K-style contribution plan and demand localities require their government workers to contribute 5 percent of their salary to retirement, with the money offset by a 5 percent pay raise."

This was already forced on state employees in 2011.

Now the "local government workers" (teachers) will have to comply with the same deal.

No out of pocket costs to the employees except additional income taxes paid.
Stand up4 America

Princeton, WV

#2 Mar 27, 2012
va_tazdad wrote:
"The myriad changes, that still need to be approved by Governor Bob McDonnell, would reduce benefit packages for recent or new hires, introduce a hybrid, 401K-style contribution plan and demand localities require their government workers to contribute 5 percent of their salary to retirement, with the money offset by a 5 percent pay raise."
This was already forced on state employees in 2011.
Now the "local government workers" (teachers) will have to comply with the same deal.
No out of pocket costs to the employees except additional income taxes paid.
Welfare Disbursment: Bump up.
No one else did, go figure...Carma is real.

Since: Feb 10

Richmond, VA

#3 Mar 27, 2012
Stand up4 America wrote:
<quoted text>Welfare Disbursment: Bump up.
No one else did, go figure...Carma is real.
No notheasd2.0, no welfare increase for you.
Stand up4 America

Princeton, WV

#4 Mar 27, 2012
va_tazdad wrote:
<quoted text>
No notheasd2.0, no welfare increase for you.
What is a "notheasd2.0"? weird...

Since: Feb 10

Richmond, VA

#5 Mar 27, 2012
Stand up4 America wrote:
<quoted text>What is a "notheasd2.0"? weird...
You are fool. You are an updated clone of the original fool, version 2.0 still useless.

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