Investor Presentaiton
36
JRS Plan
Design Alternatives Cost Estimates
Annual Cost Impact
$4,500,000
$4,000,000
$3,500,000
$3,000,000
V Virginia
Retirement
RS System
JRS Plan Design Alternative
Annual Cost Increase Estimates
Estimated Increase in
Annual Cost of $4
Million based on current
population. Expected to
increase further as current
judges are re-appointed
after turning age 55.
$2,500,000
$2,000,000
$1,500,000
$1,000,000
No Impact to Defined
Benefit Plan Liability, Extra
$1 million per year
Estimated cost of $1.6
million per year would be
less than Plan 2 but more
than Increasing Match
$500,000
S-
Increase Match to 100%
Change Benefit Multiplier or Service Weighting
Alternative Plan Designs
SB 396
Note that both increasing benefit multiplier or service weighting also increases employer risk,
which had been reduced by the structure of the hybrid.View entire presentation