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Current as of January 01, 2025 | Updated by Findlaw Staff
The governing body of any county with an urban county executive form of government may by ordinance reserve the right to amend, suspend, or revoke the retirement plan and trust at any time, so long as the benefits payable under the plan are consistent with § 51.1-800. However, any amendment, suspension, or revocation shall not have the effect of diverting the trust fund to purposes other than the exclusive benefit of the participating employees or their beneficiaries until all liability for accrued benefits payable under the terms of the plan has been fully satisfied.
Cite this article: FindLaw.com - Virginia Code Title 51.1. Pensions, Benefits, and Retirement § 51.1-822. Amendment, suspension, or revocation of retirement plan and trust - last updated January 01, 2025 | https://codes.findlaw.com/va/title-51-1-pensions-benefits-and-retirement/va-code-sect-51-1-822/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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