{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/51.1-148.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/51.1-148.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/51.1-148.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/51.1-148.html"}],"law_id":77841,"edition_id":1,"section_id":77841,"structure_id":15367,"section_number":"51.1-148","catch_line":"Retirement allowance account","history":"1952, c. 157, \u00a7 51-111.50; 1956, c. 560; 1978, c. 841; 1980, c. 137; 1984, c. 430; 1990, c. 832.","full_text":"A\n\nAll employer contributions, all amounts transferred from the members’ contribution account, and all income from the invested assets of the retirement system shall be credited to the retirement allowance account. All benefits under the retirement system, other than refunds of members’ accumulated contributions, and all administrative expenses of the retirement system, except to the extent that such expenses are otherwise paid, shall be paid from the retirement allowance account. At the discretion of the Board, contributions, penalties, and interest assessments may be deducted from the retirement allowance account of the employer.B\n\nThe amount of the interest allowances provided for in this chapter shall be transferred from the retirement allowance account to the members’ contribution account annually.C\n\nThe records of the retirement allowance account shall be maintained so that the portion that is applicable to each respective employer may be ascertained at all times.","order_by":null,"text":{"0":{"id":279177,"text":"All employer contributions, all amounts transferred from the members’ contribution account, and all income from the invested assets of the retirement system shall be credited to the retirement allowance account. All benefits under the retirement system, other than refunds of members’ accumulated contributions, and all administrative expenses of the retirement system, except to the extent that such expenses are otherwise paid, shall be paid from the retirement allowance account. At the discretion of the Board, contributions, penalties, and interest assessments may be deducted from the retirement allowance account of the employer.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":279178,"text":"The amount of the interest allowances provided for in this chapter shall be transferred from the retirement allowance account to the members’ contribution account annually.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":279179,"text":"The records of the retirement allowance account shall be maintained so that the portion that is applicable to each respective employer may be ascertained at all times.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":15367,"edition_id":1,"name":"Assets of Retirement System","identifier":"8","label":"article","depth":3,"order_by":1,"parent_id":13056,"metadata":{},"date_created":"2026-06-26 03:54:20","date_modified":"2026-06-26 03:54:20","permalink":{"id":235333,"object_type":"structure","relational_id":15367,"identifier":"8","token":"51.1\/1\/8","url":"\/51.1\/1\/8\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13056,"edition_id":1,"name":"Virginia Retirement System","identifier":"1","label":"chapter","depth":2,"order_by":1,"parent_id":12947,"metadata":{},"date_created":"2026-06-26 03:44:11","date_modified":"2026-06-26 03:44:11","permalink":{"id":235031,"object_type":"structure","relational_id":13056,"identifier":"1","token":"51.1\/1","url":"\/51.1\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12947,"edition_id":1,"name":"Pensions, Benefits, and Retirement","identifier":"51.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:04","date_modified":"2026-06-26 03:44:04","permalink":{"id":235029,"object_type":"structure","relational_id":12947,"identifier":"51.1","token":"51.1","url":"\/51.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":66002,"structure_id":15367,"section_number":"51.1-147","catch_line":"Members' contribution account","url":"\/51.1-147\/","token":"51.1\/1\/8\/51.1-147","metadata":false},{"id":77841,"structure_id":15367,"section_number":"51.1-148","catch_line":"Retirement allowance account","url":"\/51.1-148\/","token":"51.1\/1\/8\/51.1-148","metadata":false},{"id":77374,"structure_id":15367,"section_number":"51.1-149","catch_line":"Appointment of custodian; payments","url":"\/51.1-149\/","token":"51.1\/1\/8\/51.1-149","metadata":false},{"id":58505,"structure_id":15367,"section_number":"51.1-150","catch_line":"Deposits","url":"\/51.1-150\/","token":"51.1\/1\/8\/51.1-150","metadata":false},{"id":59534,"structure_id":15367,"section_number":"51.1-151","catch_line":"Repealed","url":"\/51.1-151\/","token":"51.1\/1\/8\/51.1-151","metadata":false}],"previous_section":{"id":66002,"structure_id":15367,"section_number":"51.1-147","catch_line":"Members' contribution account","url":"\/51.1-147\/","token":"51.1\/1\/8\/51.1-147","metadata":false},"next_section":{"id":77374,"structure_id":15367,"section_number":"51.1-149","catch_line":"Appointment of custodian; payments","url":"\/51.1-149\/","token":"51.1\/1\/8\/51.1-149","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/51.1-148\/","history_text":"

This law was first created in 1952. The record of its establishment is cataloged in chapter 157 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1952 \u201cActs\u201d aren\u2019t available online. It has been modified 5 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1956, chapter 560; in 1978, chapter 841; in 1980, chapter 137; in 1984, chapter 430; in 1990, chapter 832.<\/p>","references":[{"id":75770,"section_number":"51.1-124.12","catch_line":"Procedure when employer required to withdraw funds","order_by":null,"url":"\/51.1-124.12\/"}],"refers_to":false,"permalink":{"id":235339,"object_type":"law","relational_id":77841,"identifier":"51.1-148","token":"51.1\/1\/8\/51.1-148","url":"\/51.1-148\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/51.1-148\/","token":"51.1\/1\/8\/51.1-148","dublin_core":{"Title":"Retirement allowance account","Type":"Text","Format":"text\/html","Identifier":"\u00a7 51.1-148","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> All employer<\/span> contributions, all amounts transferred from the members<\/span>’ contribution account, and all income from the invested assets<\/span> of the retirement system<\/span> shall be credited to the retirement allowance<\/span> account. All benefits under the retirement system<\/span>, other than refunds of members<\/span>’ accumulated contributions<\/span>, and all administrative expenses of the retirement system<\/span>, except to the extent that such expenses are otherwise paid, shall be paid from the retirement allowance<\/span> account. At the discretion of the Board<\/span>, contributions, penalties, and interest assessments may be deducted from the retirement allowance<\/span> account of the employer<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The amount of the interest allowances provided for in this chapter shall be transferred from the retirement allowance<\/span> account to the members<\/span>’ contribution account annually. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The records of the retirement allowance<\/span> account shall be maintained so that the portion that is applicable to each respective employer<\/span> may be ascertained at all times. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nRETIREMENT ALLOWANCE ACCOUNT (\u00a7 51.1-148)\n\nA. All employer contributions, all amounts transferred from the members’\ncontribution account, and all income from the invested assets of the retirement\nsystem shall be credited to the retirement allowance account. All benefits under\nthe retirement system, other than refunds of members’ accumulated\ncontributions, and all administrative expenses of the retirement system, except\nto the extent that such expenses are otherwise paid, shall be paid from the\nretirement allowance account. At the discretion of the Board, contributions,\npenalties, and interest assessments may be deducted from the retirement\nallowance account of the employer.\n\nB. The amount of the interest allowances provided for in this chapter shall be\ntransferred from the retirement allowance account to the members’\ncontribution account annually.\n\nC. The records of the retirement allowance account shall be maintained so that\nthe portion that is applicable to each respective employer may be ascertained at\nall times.\n\nHISTORY: 1952, c. 157, \u00a7 51-111.50; 1956, c. 560; 1978, c. 841; 1980, c. 137;\n1984, c. 430; 1990, c. 832.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}