SD27 - Report on Cost Impact of the Restructured Higher Education Financial and Administrative Operations Act (Section 23-38.114 through Section 23-38.116 of the Code of Virginia)

Executive Summary:
Report on the actuarial analysis of the potential impact on the Commonwealth’s retirement system and group insurance programs for state employees in public institutions of higher education in the Commonwealth included in subchapter 2 or 3 of Chapter 4.10 of Title 23, or in both subchapters, or all public institutions of higher education in the Commonwealth, were permitted to offer an optional retirement plan and optional group insurance programs to classified employees who are, or who prior to the effective date of this Act were, covered by the State Personnel Act.