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<br /> <br />R-IO-23 <br /> <br />A RESOLUTION AFFIRMING THAT ANY PERSON WHO BECOMES A <br />MEMBER OF THE VIRGINIA RETIREMENT SYSTEM (VRS) ON OR AFTER <br />JULY 1, 2010 AS A RESULT OF EMPLOYMENT BY THE CITY OF <br />PORTSMOUTH SHALL BE REQUIRED TO PAY THE EMPLOYEE PORTION <br />OF MEMBER CONTRIBUTIONS TO THE VRS. <br /> <br />WHEREAS, the City of Portsmouth by Resolution 84-122, adopted November <br />20, 1984 and effective December 1, 1984, authorized and directed the City Manager to <br />include in all future operating budgets "sums sufficient to defray all costs associated with <br />the [City] employees' membership in the Virginia Supplemental Retirement System;" <br />and <br /> <br />WHEREAS, again by Resolution R-08-33, adopted on September 9, 2008, the <br />City of Portsmouth reaffirmed its intention to pick up or assume the responsibility for <br />payment of VRS-required member contributions for City employees who are members of <br />the Virginia Retirement System; and <br /> <br />WHEREAS, Chapter 737 of the Acts of Assembly, 2010, was enacted by the <br />2010 General Assembly and defines a "person who becomes a [VRS] member on or after <br />July 1, 2010" to mean "a person who is not a member of a retirement plan administered <br />by the Virginia Retirement System the first time he [or she] is hired on or after July 1, <br />2010, in a covered position;" and <br /> <br />WHEREAS, Chapter 737 of the Acts of Assembly, 2010, also provides that if the <br />City does not elect to pay the employee portion of the member contributions for persons <br />who become a member on or after July 1, 2010, such members shall be required to pay <br />the employee portion of member contributions to VRS. <br /> <br />NOW THEREFORE BE IT RESOLVED by the Council of the City of <br />Portsmouth, Virginia hereby affirms its commitment under City Council Resolution No. <br />1984-122 to fund the costs associated with membership in the Virginia Supplemental <br />Retirement System, now the Virginia Retirement System, of any City employee who <br />becomes a VRS member prior to July 1,2010. <br /> <br />BE IT FURTHER RESOLVED that any City employee who is a "person who <br />becomes a (VRS) member on or afterJuly 1,2010" shall be required to pay the employee <br />portion of member contributions to tlie Virginia Retirement System. <br /> <br />ADOPTED by the Council of the City of Portsmouth, Virginia ata meeting held <br />on June 22, 2010. <br /> <br />Teste: <br /> <br />City Clerk <br />