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Bill

SB 113

Virginia Retirement System; service retirement allowance, return to work.

2026 Regular Session Introduced by Christie Craig

SB 113 modifies Virginia's pension system rules governing how service retirement benefits interact with reemployment earnings for returning retirees.

Continued to next session in Finance and Appropriations (10-Y 4-N)
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Bill Summary · SB 113

Legislative bill overview

SB 113 modifies Virginia's retirement system rules regarding employees who receive a service retirement allowance and subsequently return to work. The bill adjusts how pension payments interact with re-employment earnings for retirees who come back into the workforce. These changes affect both the financial obligations of the Virginia Retirement System and the incentive structure for retired employees to return to work.

Why is this important

Virginia faces ongoing workforce challenges in certain sectors, and retirement system rules significantly influence whether experienced workers return to employment. The financial impact on the retirement system's long-term sustainability depends on how these rule changes affect pension obligations and employee behavior. This directly affects taxpayers who fund the system and retirees whose benefits may be subject to earnings limitations.

Potential points of contention

  • Benefit reduction concerns: Changes to how pensions are calculated or reduced when retirees return to work could disadvantage some retired employees who want to continue contributing to the workforce
  • Fiscal sustainability: The Virginia Retirement System's fiscal impact statement raised questions about long-term costs; unclear whether changes reduce or increase overall system obligations
  • Fairness and consistency: Potential disparities in how different retiree groups are treated depending on when they retired or their employment sector

Compiled from official sources — confirm details with the bill’s official record.

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