542R - Retirement

  • Employer and employee contributions to the Virginia Retirement System and social security program shall be made through payroll deductions at times specified by law or by the superintendent or his/her designee in the absence of a specific legal requirement. Payroll deductions for social security and the supplemental retirement system shall be itemized so the amounts paid to each is identifiable. Social security contributions are the only employer provided retirement benefits available for other part-time employees.

    In order for a retiring employee to be eligible for continuation of group health insurance benefits (pursuant to school board policy, in addition to the rights granted under COBRA) and payment of retirement supplements, the employee must meet the eligibility requirements for VRS disability retirement, early retirement, or normal retirement. The continuation of group health insurance pursuant to school board policy is explained at Regulation 544-C.

     

    Cross Reference(s):
    Regulation 544R-B, Personnel- Health Insurance

     

    Adopted: April 4, 1970
    Amended: October 4, 1977
    Amended: September 18, 1978
    Amended: October 20, 1980
    Amended: August 4, 1981
    Amended: June 21, 1982
    Amended: April 5, 1983
    Amended: August 6, 1985
    Amended: August 1, 1991
    Amended: April 6, 1999
    Amended: August 23, 2001
    Amended: September 12, 2018