The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 16 V.S.A. § 1949b)
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§ 1949b. Postretirement adjustment to retirement allowance; formula; evaluation
(a) On or before September 1, 2027 and every three years thereafter, or at the request
of the Board in conjunction with any proposed changes to the amortization schedule,
the Board shall consider the intent set forth in subsection 1949a(a) of this chapter
and evaluate whether to modify the postretirement adjustment formula or any other
benefit that may accrue to the members of the System who are in active service on
or before June 30, 2022 and made contributions for the duration of fiscal year 2023
and members in active service on or after July 1, 2022 and made contributions for
at least one year. The evaluation shall only include a proposed benefit change if
the Postretirement Adjustment Allowance Fund has sufficient assets to pay for the
present value of that benefit.
(b) On or before January 15, 2028 and every three years thereafter, or following a request
for an evaluation by the Board, the Board shall submit a report to the House and Senate
Committees on Government Operations with the results of the evaluation described in
subsection (a) of this section. (Added 2021, No. 114 (Adj. Sess.), § 22, eff. July 1, 2022.)