A. Allowance payable on retirement. - Upon retirement for disability, amember who has five or more years of creditable service shall receive anannual retirement allowance during his lifetime and continued disabilityequal to 1.70 percent of his average final compensation multiplied by thesmaller of (i) twice the amount of his creditable service or (ii) the amountof creditable service he would have completed at age sixty if he had remainedin service to that age. If a member has already attained age sixty, theamount of creditable service at his date of retirement shall be used.
For retirements between October 1, 1994, and December 31, 1998, any employeeor local officer who is a member or beneficiary of a retirement systemadministered by the Board shall receive an additional retirement allowanceequal to three percent of the disability retirement allowance payable underthis section; provided that, for purposes of this additional retirementallowance, the term employee shall include only those employees of politicalsubdivisions that have adopted a resolution providing for such an allowanceunder subsection B of § 51.1-130. Average final compensation attributable toservice as Governor, Lieutenant Governor, Attorney General, or member of theGeneral Assembly shall not be included in computing this additionalretirement allowance.
B. Workers' compensation guarantee. - If a member retires for disability froma cause which is compensable under the Virginia Workers' Compensation Act (§65.2-100 et seq.), the amount of the annual retirement allowance shall equalsixty-six and two-thirds percent of the member's average final compensationif the member does not qualify for primary social security benefits under theprovisions of the Social Security Act in effect on the date of hisretirement. If the member qualifies for primary social security benefitsunder the provisions of the Social Security Act in effect on the date of hisretirement, the allowance payable from the retirement system shall equalfifty percent of his average final compensation. A member shall be entitledto the larger of the retirement allowance as determined under the provisionsof subsection A or under the provisions of this subsection.
C. Reduction of allowance. - Any allowance payable to a member who retiresfor disability from a cause compensable under the Virginia Workers'Compensation Act shall be reduced by the amount of any payments under theprovisions of the Act in effect on the date of retirement of the member andthe excess of the allowance shall be paid to the member. When the time forcompensation payments under the Act has elapsed, the member shall receive thefull amount of the allowance payable during his lifetime and continueddisability. If the member's payments under the Virginia Workers' CompensationAct are adjusted or terminated for refusal to work or to comply with therequirements of § 65.2-603, his allowance shall be computed as if he werereceiving the compensation to which he would otherwise be entitled.
D. Special retirement allowance guarantee. - Any member retired from a causewhich is not compensable under the Virginia Workers' Compensation Act shallbe guaranteed an annual retirement allowance during his lifetime andcontinued disability which equals fifty percent of the member's average finalcompensation if the member does not qualify for primary social securitybenefits under the provisions of the Social Security Act in effect on thedate of his retirement. If the member qualifies for primary social securitybenefits under the provisions of the Social Security Act in effect on thedate of retirement, the allowance payable from the retirement system shallequal thirty-three and one-third percent of his average final compensation.
E. Determination of retirement allowance. - For the purposes of this section,the retirement allowance shall be determined on the assumption that theretirement allowance is payable to the member alone and that no optionalretirement allowance is elected.
(1952, c. 157, § 51-111.57; 1956, cc. 560, 652; 1960, c. 604; 1962, c. 245;1964, c. 186; 1966, c. 174; 1970, c. 476; 1971, Ex. Sess., c. 88; 1972, c.568; 1973, c. 523; 1974, c. 353; 1976, c. 541; 1980, c. 722, § 51-111.57:1;1982, c. 467; 1986, c. 474; 1990, c. 832; 1993, c. 895; 1994, 1st Sp. Sess.,c. 5; 1998, c. 674.)
A. Allowance payable on retirement. - Upon retirement for disability, amember who has five or more years of creditable service shall receive anannual retirement allowance during his lifetime and continued disabilityequal to 1.70 percent of his average final compensation multiplied by thesmaller of (i) twice the amount of his creditable service or (ii) the amountof creditable service he would have completed at age sixty if he had remainedin service to that age. If a member has already attained age sixty, theamount of creditable service at his date of retirement shall be used.
For retirements between October 1, 1994, and December 31, 1998, any employeeor local officer who is a member or beneficiary of a retirement systemadministered by the Board shall receive an additional retirement allowanceequal to three percent of the disability retirement allowance payable underthis section; provided that, for purposes of this additional retirementallowance, the term employee shall include only those employees of politicalsubdivisions that have adopted a resolution providing for such an allowanceunder subsection B of § 51.1-130. Average final compensation attributable toservice as Governor, Lieutenant Governor, Attorney General, or member of theGeneral Assembly shall not be included in computing this additionalretirement allowance.
B. Workers' compensation guarantee. - If a member retires for disability froma cause which is compensable under the Virginia Workers' Compensation Act (§65.2-100 et seq.), the amount of the annual retirement allowance shall equalsixty-six and two-thirds percent of the member's average final compensationif the member does not qualify for primary social security benefits under theprovisions of the Social Security Act in effect on the date of hisretirement. If the member qualifies for primary social security benefitsunder the provisions of the Social Security Act in effect on the date of hisretirement, the allowance payable from the retirement system shall equalfifty percent of his average final compensation. A member shall be entitledto the larger of the retirement allowance as determined under the provisionsof subsection A or under the provisions of this subsection.
C. Reduction of allowance. - Any allowance payable to a member who retiresfor disability from a cause compensable under the Virginia Workers'Compensation Act shall be reduced by the amount of any payments under theprovisions of the Act in effect on the date of retirement of the member andthe excess of the allowance shall be paid to the member. When the time forcompensation payments under the Act has elapsed, the member shall receive thefull amount of the allowance payable during his lifetime and continueddisability. If the member's payments under the Virginia Workers' CompensationAct are adjusted or terminated for refusal to work or to comply with therequirements of § 65.2-603, his allowance shall be computed as if he werereceiving the compensation to which he would otherwise be entitled.
D. Special retirement allowance guarantee. - Any member retired from a causewhich is not compensable under the Virginia Workers' Compensation Act shallbe guaranteed an annual retirement allowance during his lifetime andcontinued disability which equals fifty percent of the member's average finalcompensation if the member does not qualify for primary social securitybenefits under the provisions of the Social Security Act in effect on thedate of his retirement. If the member qualifies for primary social securitybenefits under the provisions of the Social Security Act in effect on thedate of retirement, the allowance payable from the retirement system shallequal thirty-three and one-third percent of his average final compensation.
E. Determination of retirement allowance. - For the purposes of this section,the retirement allowance shall be determined on the assumption that theretirement allowance is payable to the member alone and that no optionalretirement allowance is elected.
(1952, c. 157, § 51-111.57; 1956, cc. 560, 652; 1960, c. 604; 1962, c. 245;1964, c. 186; 1966, c. 174; 1970, c. 476; 1971, Ex. Sess., c. 88; 1972, c.568; 1973, c. 523; 1974, c. 353; 1976, c. 541; 1980, c. 722, § 51-111.57:1;1982, c. 467; 1986, c. 474; 1990, c. 832; 1993, c. 895; 1994, 1st Sp. Sess.,c. 5; 1998, c. 674.)
A. Allowance payable on retirement. - Upon retirement for disability, amember who has five or more years of creditable service shall receive anannual retirement allowance during his lifetime and continued disabilityequal to 1.70 percent of his average final compensation multiplied by thesmaller of (i) twice the amount of his creditable service or (ii) the amountof creditable service he would have completed at age sixty if he had remainedin service to that age. If a member has already attained age sixty, theamount of creditable service at his date of retirement shall be used.
For retirements between October 1, 1994, and December 31, 1998, any employeeor local officer who is a member or beneficiary of a retirement systemadministered by the Board shall receive an additional retirement allowanceequal to three percent of the disability retirement allowance payable underthis section; provided that, for purposes of this additional retirementallowance, the term employee shall include only those employees of politicalsubdivisions that have adopted a resolution providing for such an allowanceunder subsection B of § 51.1-130. Average final compensation attributable toservice as Governor, Lieutenant Governor, Attorney General, or member of theGeneral Assembly shall not be included in computing this additionalretirement allowance.
B. Workers' compensation guarantee. - If a member retires for disability froma cause which is compensable under the Virginia Workers' Compensation Act (§65.2-100 et seq.), the amount of the annual retirement allowance shall equalsixty-six and two-thirds percent of the member's average final compensationif the member does not qualify for primary social security benefits under theprovisions of the Social Security Act in effect on the date of hisretirement. If the member qualifies for primary social security benefitsunder the provisions of the Social Security Act in effect on the date of hisretirement, the allowance payable from the retirement system shall equalfifty percent of his average final compensation. A member shall be entitledto the larger of the retirement allowance as determined under the provisionsof subsection A or under the provisions of this subsection.
C. Reduction of allowance. - Any allowance payable to a member who retiresfor disability from a cause compensable under the Virginia Workers'Compensation Act shall be reduced by the amount of any payments under theprovisions of the Act in effect on the date of retirement of the member andthe excess of the allowance shall be paid to the member. When the time forcompensation payments under the Act has elapsed, the member shall receive thefull amount of the allowance payable during his lifetime and continueddisability. If the member's payments under the Virginia Workers' CompensationAct are adjusted or terminated for refusal to work or to comply with therequirements of § 65.2-603, his allowance shall be computed as if he werereceiving the compensation to which he would otherwise be entitled.
D. Special retirement allowance guarantee. - Any member retired from a causewhich is not compensable under the Virginia Workers' Compensation Act shallbe guaranteed an annual retirement allowance during his lifetime andcontinued disability which equals fifty percent of the member's average finalcompensation if the member does not qualify for primary social securitybenefits under the provisions of the Social Security Act in effect on thedate of his retirement. If the member qualifies for primary social securitybenefits under the provisions of the Social Security Act in effect on thedate of retirement, the allowance payable from the retirement system shallequal thirty-three and one-third percent of his average final compensation.
E. Determination of retirement allowance. - For the purposes of this section,the retirement allowance shall be determined on the assumption that theretirement allowance is payable to the member alone and that no optionalretirement allowance is elected.
(1952, c. 157, § 51-111.57; 1956, cc. 560, 652; 1960, c. 604; 1962, c. 245;1964, c. 186; 1966, c. 174; 1970, c. 476; 1971, Ex. Sess., c. 88; 1972, c.568; 1973, c. 523; 1974, c. 353; 1976, c. 541; 1980, c. 722, § 51-111.57:1;1982, c. 467; 1986, c. 474; 1990, c. 832; 1993, c. 895; 1994, 1st Sp. Sess.,c. 5; 1998, c. 674.)
