§ 60.2-604 Reduction of benefit amount by amount of pension
The weekly benefit amount payable to an individual for any week which begins in a period for which such individual is receiving a governmental or other pension, retirement or retired pay, annuity, or any other similar periodic payment under a plan maintained or contributed to by a base period or chargeable employer based on the previous work of such individual, including payments received by such individual in accordance with § 65.2-500 or 65.2-502, shall be reduced, but not below zero, by an amount equal to the amount of such pension, retirement or retired pay, annuity, or other payment, which is reasonably attributable to such week; however, in consideration of the employee’s contributions thereto, the weekly benefit amount payable to an individual for any week shall not be reduced by any amount of Social Security Act or Railroad Retirement Act retirement benefits received by such individual and attributable to such week.
History
This law was first created in 1977. The record of its establishment is cataloged in chapter 330 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1977 “Acts” aren’t available online. It has been modified 6 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1978, chapter 269; in 1986, chapter 480; in 1987, chapter 3; in 2003, chapters 534 and 555; in 2005, chapter 1; in 2011, chapters 748 and 751.
1977, c. 330, § 60.1-48.1; 1978, c. 269; 1986, c. 480; 1987, c. 3; 2003, cc. 534, 555; 2005, c. 1; 2011, cc. 748, 751.