HD16 - The Judicial Retirement System
Executive Summary: Senate Bill 713 passed the Senate of Virginia in the 1985 session of the General Assembly. SB 713 would have amended the judicial retirement formula by eliminating the 3.5 weighting of years served in the judiciary for all judges appointed to the bench after January 1, 1986. As this proposal would have a significant impact upon compensation of future judges, the House Appropriations Committee deferred action on the bill in 1985. It asked the Retirement Subcommittee to study the proposal further and advise the full Committee at the 1986 session of the General Assembly. As Chairman of the Retirement Subcommittee of the House Appropriations Committee, Delegate Owen Pickett invited Senator Willey to appoint three members of the Senate Finance Committee to join the five house members in the study. The Joint Subcommittee held meetings on October 22nd and December 2nd, of 1985. During the course of its study, the Joint Subcommittee heard testimony and received assistance from representatives of the following organizations: • Supreme Court of Virginia • Virginia State Bar • Virginia Bar Association • Judicial Council of Virginia • Virginia Trial Lawyers' Association • Virginia Bar • Court of Appeals of Virginia • Virginia Association of Defense Attorneys • District Courts Committee This report of the Joint Subcommittee is organized into seven sections as follows: Section I: Highlights of the Present Judicial Retirement System Section II: Overview of Previous Legislative Studies Section III: Age and Service of Virginia Judges Section IV: Comparisons to Retirement Systems in Other States Section V: Fiscal Impacts Section VI: Joint Subcommittee's Recommendations Section VII: Minority Report Section VIII: Appendices Testimony received at the Joint Subcommittee's October 22nd meeting is attached as an Appendix to this report. |