2015 Code of Virginia
Title 51.1 - Pensions, Benefits, and Retirement
§ 51.1-1302. Local benefit restoration plans
The governing body of any county, municipality, authority or other political subdivision of the Commonwealth that does not participate in the retirement system or that maintains a plan that provides supplemental benefits to employees covered by the retirement system may, by ordinance or by resolution adopted by a recorded majority of the members of such governing body, establish for itself and its employees a benefit restoration plan established under ยง 415 (m) of the Internal Revenue Code and, if it deems it advisable, may create a trust or other special fund for segregation of funds or assets relating to such plan.
2001, cc. 681, 692; 2006, c. 307.
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