§ 23-38.119. Certain insurance plans; legal process and assignment.
A. Insurance provided under this article and all proceeds therefrom shall besubject to the same provisions regarding exemption from levy, garnishment andother legal process as is provided to Virginia Retirement System plans under§ 51.1-510; provided, however, that permitted assignments shall be effectedthrough completion of forms provided by the covered institution or itsvendor, and provided further, that for insurance plans established by acovered institution, the authority granted to the Board of the VirginiaRetirement System in § 51.1-510 is hereby granted to and shall be exercisedby the covered institution.
B. Each covered institution (i) shall purchase or make available group lifeand accidental death and dismemberment insurance policies covering in wholeor in part those of its participating Covered Employees eligible toparticipate in the Virginia Retirement System, and (ii) may purchase or makeavailable such additional insurance policies covering its participatingCovered Employees as it deems appropriate. Participating Covered Employeesshall not be required to present evidence of insurability satisfactory to aninsurance company for basic group life insurance coverage. All salariedparticipating Covered Employees shall be offered basic group life insuranceat a level of coverage determined by such institution's governing body. Acovered institution may require participating Covered Employees to pay all ora portion of the cost of the insurance coverage offered pursuant to thissubsection, which may be collected through a payroll deduction program. Ifthe institution's governing body so elects, and subject to the execution ofsuch participation agreements as the Virginia Retirement System may require,the covered institution's participating Covered Employees may be covered bythe Virginia Retirement System's group insurance programs establishedpursuant to Chapter 5 (§ 51.1-500 et seq.) of Title 51.1 under the sameterms, costs, and conditions that apply to, and with the same benefits thatare available to, other state employees.
C. For those of its participating Covered Employees eligible to participatein the Virginia Retirement System, a covered institution shall (i) purchasedisability insurance, (ii) subject to the execution of such participationagreements as may be necessary, appropriate, and in the best interests of theCommonwealth, continue to participate in the disability insurance programestablished for state agencies, (iii) establish a self-insured disabilityinsurance program, or (iv) any combination of clauses (i) through (iii). Acovered institution may require participating Covered Employees to pay all ora portion of the cost of the insurance coverage offered pursuant to clauses(i), (iii), or (iv) of this subsection, which may be collected through apayroll deduction program. However, the covered institution shall not berequired to contribute to the program established for state agencies onbehalf of participating Covered Employees who do not participate in thatprogram.
D. If a covered institution's governing body so elects, and subject to theexecution of such participation agreements as may be necessary, appropriate,and in the best interests of the Commonwealth, each such institution or itsparticipating Covered Employees, or both, may participate in any futureinsurance programs established for state employees under the same terms andconditions that apply to, and with the same benefits that are available to,other state employees.
§ 23-38.119. Certain insurance plans; legal process and assignment.
A. Insurance provided under this article and all proceeds therefrom shall besubject to the same provisions regarding exemption from levy, garnishment andother legal process as is provided to Virginia Retirement System plans under§ 51.1-510; provided, however, that permitted assignments shall be effectedthrough completion of forms provided by the covered institution or itsvendor, and provided further, that for insurance plans established by acovered institution, the authority granted to the Board of the VirginiaRetirement System in § 51.1-510 is hereby granted to and shall be exercisedby the covered institution.
B. Each covered institution (i) shall purchase or make available group lifeand accidental death and dismemberment insurance policies covering in wholeor in part those of its participating Covered Employees eligible toparticipate in the Virginia Retirement System, and (ii) may purchase or makeavailable such additional insurance policies covering its participatingCovered Employees as it deems appropriate. Participating Covered Employeesshall not be required to present evidence of insurability satisfactory to aninsurance company for basic group life insurance coverage. All salariedparticipating Covered Employees shall be offered basic group life insuranceat a level of coverage determined by such institution's governing body. Acovered institution may require participating Covered Employees to pay all ora portion of the cost of the insurance coverage offered pursuant to thissubsection, which may be collected through a payroll deduction program. Ifthe institution's governing body so elects, and subject to the execution ofsuch participation agreements as the Virginia Retirement System may require,the covered institution's participating Covered Employees may be covered bythe Virginia Retirement System's group insurance programs establishedpursuant to Chapter 5 (§ 51.1-500 et seq.) of Title 51.1 under the sameterms, costs, and conditions that apply to, and with the same benefits thatare available to, other state employees.
C. For those of its participating Covered Employees eligible to participatein the Virginia Retirement System, a covered institution shall (i) purchasedisability insurance, (ii) subject to the execution of such participationagreements as may be necessary, appropriate, and in the best interests of theCommonwealth, continue to participate in the disability insurance programestablished for state agencies, (iii) establish a self-insured disabilityinsurance program, or (iv) any combination of clauses (i) through (iii). Acovered institution may require participating Covered Employees to pay all ora portion of the cost of the insurance coverage offered pursuant to clauses(i), (iii), or (iv) of this subsection, which may be collected through apayroll deduction program. However, the covered institution shall not berequired to contribute to the program established for state agencies onbehalf of participating Covered Employees who do not participate in thatprogram.
D. If a covered institution's governing body so elects, and subject to theexecution of such participation agreements as may be necessary, appropriate,and in the best interests of the Commonwealth, each such institution or itsparticipating Covered Employees, or both, may participate in any futureinsurance programs established for state employees under the same terms andconditions that apply to, and with the same benefits that are available to,other state employees.
§ 23-38.119. Certain insurance plans; legal process and assignment.
A. Insurance provided under this article and all proceeds therefrom shall besubject to the same provisions regarding exemption from levy, garnishment andother legal process as is provided to Virginia Retirement System plans under§ 51.1-510; provided, however, that permitted assignments shall be effectedthrough completion of forms provided by the covered institution or itsvendor, and provided further, that for insurance plans established by acovered institution, the authority granted to the Board of the VirginiaRetirement System in § 51.1-510 is hereby granted to and shall be exercisedby the covered institution.
B. Each covered institution (i) shall purchase or make available group lifeand accidental death and dismemberment insurance policies covering in wholeor in part those of its participating Covered Employees eligible toparticipate in the Virginia Retirement System, and (ii) may purchase or makeavailable such additional insurance policies covering its participatingCovered Employees as it deems appropriate. Participating Covered Employeesshall not be required to present evidence of insurability satisfactory to aninsurance company for basic group life insurance coverage. All salariedparticipating Covered Employees shall be offered basic group life insuranceat a level of coverage determined by such institution's governing body. Acovered institution may require participating Covered Employees to pay all ora portion of the cost of the insurance coverage offered pursuant to thissubsection, which may be collected through a payroll deduction program. Ifthe institution's governing body so elects, and subject to the execution ofsuch participation agreements as the Virginia Retirement System may require,the covered institution's participating Covered Employees may be covered bythe Virginia Retirement System's group insurance programs establishedpursuant to Chapter 5 (§ 51.1-500 et seq.) of Title 51.1 under the sameterms, costs, and conditions that apply to, and with the same benefits thatare available to, other state employees.
C. For those of its participating Covered Employees eligible to participatein the Virginia Retirement System, a covered institution shall (i) purchasedisability insurance, (ii) subject to the execution of such participationagreements as may be necessary, appropriate, and in the best interests of theCommonwealth, continue to participate in the disability insurance programestablished for state agencies, (iii) establish a self-insured disabilityinsurance program, or (iv) any combination of clauses (i) through (iii). Acovered institution may require participating Covered Employees to pay all ora portion of the cost of the insurance coverage offered pursuant to clauses(i), (iii), or (iv) of this subsection, which may be collected through apayroll deduction program. However, the covered institution shall not berequired to contribute to the program established for state agencies onbehalf of participating Covered Employees who do not participate in thatprogram.
D. If a covered institution's governing body so elects, and subject to theexecution of such participation agreements as may be necessary, appropriate,and in the best interests of the Commonwealth, each such institution or itsparticipating Covered Employees, or both, may participate in any futureinsurance programs established for state employees under the same terms andconditions that apply to, and with the same benefits that are available to,other state employees.
