{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/51.1-165.01.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/51.1-165.01.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/51.1-165.01.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/51.1-165.01.html"}],"law_id":82994,"edition_id":1,"section_id":82994,"structure_id":14048,"section_number":"51.1-165.01","catch_line":"Partial lump-sum option for payment of retirement allowance","history":"2001, cc. 679, 699; 2002, c. 404.","full_text":"A\n\nFor purposes of this section:\n\t\t\t“Normal retirement” means normal retirement as described in §§ 51.1-153, 51.1-205, 51.1-216 or § 51.1-305, in accordance with the retirement plan covering the member.B\n\nThe following members are eligible to receive a portion of their retirement allowance paid in a lump-sum distribution upon retirement as provided in this section:1\n\nAny retiring member who (i) has satisfied the requirements for normal retirement after January 1, 2004, or has been credited with at least three years of creditable service for service performed after the date he was first eligible for an unreduced service retirement allowance and (ii) was in service for at least three full years after January 1, 2001, is eligible to elect one of the partial lump-sum options described in either subdivision C 1, C 2, or C 3.2\n\nAny retiring member who (i) has been credited with at least two years of creditable service for service performed after the date he was first eligible for an unreduced service retirement allowance and (ii) was in service for at least two full years after January 1, 2001, is eligible to elect one of the partial lump-sum options described in either subdivision C 1 or C 2.3\n\nAny retiring member who (i) has been credited with at least one year of creditable service for service performed after the date he was first eligible for an unreduced service retirement allowance and (ii) was in service for at least one full year after January 1, 2001, is eligible to elect the partial lump-sum option described in subdivision C 1.\n\t\t\t\tFor purposes of this subsection, service of an employee of a locality participating in the Retirement System shall mean service for which retirement credit is granted under this chapter.C\n\nAn eligible retiring member may make a one-time election to receive a portion of his retirement allowance paid in a lump-sum distribution upon his retirement. The monthly amount of the service retirement allowance otherwise payable to such member making the election shall be reduced on an actuarially equivalent basis to reflect the payment of such lump-sum distribution. Any optional payment of the retirement allowance, pursuant to \u00a7 51.1-165, shall also be based upon such reduced retirement allowance. The computation and payment of any service retirement allowance that is reduced on an actuarially equivalent basis to reflect the payment of a lump-sum distribution shall also reflect the provisions of subsection B of \u00a7 51.1-168 applicable to the total retirement benefit including the lump-sum distribution. An eligible retiring member may elect one of the following partial lump-sum options pursuant to the limitations provided in subsection B:1\n\nA lump-sum distribution shall be paid to such member upon his retirement equal to twelve times the monthly amount of his service retirement allowance as determined in subsection A of § 51.1-155, subsection A of § 51.1-206, subsection A of § 51.1-217, or subsection A of § 51.1-306, in accordance with the retirement plan covering such member but without regard to the limitation set forth in subsection B of § 51.1-168.2\n\nA lump-sum distribution shall be paid to such member upon his retirement equal to twenty-four times the monthly amount of his service retirement allowance as determined in subsection A of § 51.1-155, subsection A of § 51.1-206, subsection A of § 51.1-217, or subsection A of § 51.1-306, in accordance with the retirement plan covering such member but without regard to the limitation set forth in subsection B of § 51.1-168.3\n\nA lump-sum distribution shall be paid to such member upon his retirement equal to thirty-six times the monthly amount of his service retirement allowance as determined in subsection A of § 51.1-155, subsection A of § 51.1-206, subsection A of § 51.1-217, or subsection A of § 51.1-306, in accordance with the retirement plan covering such member but without regard to the limitation set forth in subsection B of § 51.1-168.D\n\nThe lump-sum distribution, if elected by the eligible retiring member, shall be paid at the same time that the first monthly annuity payment is paid to such member.E\n\nBefore an eligible retiring member may make an election to receive a lump-sum distribution, such member shall have been provided from the Retirement System the amount by which his monthly retirement allowance shall be reduced under each of the partial lump-sum options provided in subsection C, as available to such member. No eligible retiring member shall be allowed to make an election for a lump-sum distribution pursuant to this section more than once in his lifetime.F\n\nThe election of any one of the options stated in this section shall be void if the member dies prior to the Board receiving written notification of the member’s effective date of retirement. If the death of the member occurs prior to the effective date of retirement but after the Board has received written notification of the member’s effective date of retirement, benefits shall be paid in accordance with the provisions of § 51.1-163 and the requirement that the member be in service shall not apply.","order_by":null,"text":{"0":{"id":297513,"text":"For purposes of this section:\n\t\t\t“Normal retirement” means normal retirement as described in §§ 51.1-153, 51.1-205, 51.1-216 or § 51.1-305, in accordance with the retirement plan covering the member.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":297514,"text":"The following members are eligible to receive a portion of their retirement allowance paid in a lump-sum distribution upon retirement as provided in this section:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":297515,"text":"Any retiring member who (i) has satisfied the requirements for normal retirement after January 1, 2004, or has been credited with at least three years of creditable service for service performed after the date he was first eligible for an unreduced service retirement allowance and (ii) was in service for at least three full years after January 1, 2001, is eligible to elect one of the partial lump-sum options described in either subdivision C 1, C 2, or C 3.","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":297516,"text":"Any retiring member who (i) has been credited with at least two years of creditable service for service performed after the date he was first eligible for an unreduced service retirement allowance and (ii) was in service for at least two full years after January 1, 2001, is eligible to elect one of the partial lump-sum options described in either subdivision C 1 or C 2.","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":297517,"text":"Any retiring member who (i) has been credited with at least one year of creditable service for service performed after the date he was first eligible for an unreduced service retirement allowance and (ii) was in service for at least one full year after January 1, 2001, is eligible to elect the partial lump-sum option described in subdivision C 1.\n\t\t\t\tFor purposes of this subsection, service of an employee of a locality participating in the Retirement System shall mean service for which retirement credit is granted under this chapter.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"C"},"5":{"id":297518,"text":"An eligible retiring member may make a one-time election to receive a portion of his retirement allowance paid in a lump-sum distribution upon his retirement. The monthly amount of the service retirement allowance otherwise payable to such member making the election shall be reduced on an actuarially equivalent basis to reflect the payment of such lump-sum distribution. Any optional payment of the retirement allowance, pursuant to \u00a7 51.1-165, shall also be based upon such reduced retirement allowance. The computation and payment of any service retirement allowance that is reduced on an actuarially equivalent basis to reflect the payment of a lump-sum distribution shall also reflect the provisions of subsection B of \u00a7 51.1-168 applicable to the total retirement benefit including the lump-sum distribution. An eligible retiring member may elect one of the following partial lump-sum options pursuant to the limitations provided in subsection B:","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B3","next_prefix":"C1"},"6":{"id":297519,"text":"A lump-sum distribution shall be paid to such member upon his retirement equal to twelve times the monthly amount of his service retirement allowance as determined in subsection A of § 51.1-155, subsection A of § 51.1-206, subsection A of § 51.1-217, or subsection A of § 51.1-306, in accordance with the retirement plan covering such member but without regard to the limitation set forth in subsection B of § 51.1-168.","type":"section","prefixes":["C","1"],"prefix":"1","entire_prefix":"C1","prefix_anchor":"C1","level":2,"prior_prefix":"C","next_prefix":"C2"},"7":{"id":297520,"text":"A lump-sum distribution shall be paid to such member upon his retirement equal to twenty-four times the monthly amount of his service retirement allowance as determined in subsection A of § 51.1-155, subsection A of § 51.1-206, subsection A of § 51.1-217, or subsection A of § 51.1-306, in accordance with the retirement plan covering such member but without regard to the limitation set forth in subsection B of § 51.1-168.","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C1","next_prefix":"C3"},"8":{"id":297521,"text":"A lump-sum distribution shall be paid to such member upon his retirement equal to thirty-six times the monthly amount of his service retirement allowance as determined in subsection A of § 51.1-155, subsection A of § 51.1-206, subsection A of § 51.1-217, or subsection A of § 51.1-306, in accordance with the retirement plan covering such member but without regard to the limitation set forth in subsection B of § 51.1-168.","type":"section","prefixes":["C","3"],"prefix":"3","entire_prefix":"C3","prefix_anchor":"C3","level":2,"prior_prefix":"C2","next_prefix":"D"},"9":{"id":297522,"text":"The lump-sum distribution, if elected by the eligible retiring member, shall be paid at the same time that the first monthly annuity payment is paid to such member.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C3","next_prefix":"E"},"10":{"id":297523,"text":"Before an eligible retiring member may make an election to receive a lump-sum distribution, such member shall have been provided from the Retirement System the amount by which his monthly retirement allowance shall be reduced under each of the partial lump-sum options provided in subsection C, as available to such member. No eligible retiring member shall be allowed to make an election for a lump-sum distribution pursuant to this section more than once in his lifetime.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"11":{"id":297524,"text":"The election of any one of the options stated in this section shall be void if the member dies prior to the Board receiving written notification of the member’s effective date of retirement. If the death of the member occurs prior to the effective date of retirement but after the Board has received written notification of the member’s effective date of retirement, benefits shall be paid in accordance with the provisions of § 51.1-163 and the requirement that the member be in service shall not apply.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":14048,"edition_id":1,"name":"Benefits","identifier":"9","label":"article","depth":3,"order_by":1,"parent_id":13056,"metadata":{},"date_created":"2026-06-26 03:46:41","date_modified":"2026-06-26 03:46:41","permalink":{"id":235355,"object_type":"structure","relational_id":14048,"identifier":"9","token":"51.1\/1\/9","url":"\/51.1\/1\/9\/","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":59629,"structure_id":14048,"section_number":"51.1-152","catch_line":"Limitations on average final compensation","url":"\/51.1-152\/","token":"51.1\/1\/9\/51.1-152","metadata":false},{"id":85181,"structure_id":14048,"section_number":"51.1-153","catch_line":"Service retirement","url":"\/51.1-153\/","token":"51.1\/1\/9\/51.1-153","metadata":false},{"id":79471,"structure_id":14048,"section_number":"51.1-154","catch_line":"Compulsory service retirement","url":"\/51.1-154\/","token":"51.1\/1\/9\/51.1-154","metadata":false},{"id":72358,"structure_id":14048,"section_number":"51.1-155","catch_line":"Service retirement allowance","url":"\/51.1-155\/","token":"51.1\/1\/9\/51.1-155","metadata":false},{"id":61992,"structure_id":14048,"section_number":"51.1-155.1","catch_line":"Exceptions from general early retirement provisions for certain state employees and constitutional officers","url":"\/51.1-155.1\/","token":"51.1\/1\/9\/51.1-155.1","metadata":false},{"id":68249,"structure_id":14048,"section_number":"51.1-155.2","catch_line":"Exceptions from general early retirement provisions for certain local government officials","url":"\/51.1-155.2\/","token":"51.1\/1\/9\/51.1-155.2","metadata":false},{"id":55144,"structure_id":14048,"section_number":"51.1-156","catch_line":"Disability retirement","url":"\/51.1-156\/","token":"51.1\/1\/9\/51.1-156","metadata":false},{"id":72932,"structure_id":14048,"section_number":"51.1-157","catch_line":"Disability retirement allowance","url":"\/51.1-157\/","token":"51.1\/1\/9\/51.1-157","metadata":false},{"id":71977,"structure_id":14048,"section_number":"51.1-158","catch_line":"Reduction of benefits for acceptance of lump-sum settlement under Workers' Compensation Act","url":"\/51.1-158\/","token":"51.1\/1\/9\/51.1-158","metadata":false},{"id":87471,"structure_id":14048,"section_number":"51.1-159","catch_line":"Medical examinations of persons retired for disability","url":"\/51.1-159\/","token":"51.1\/1\/9\/51.1-159","metadata":false},{"id":79621,"structure_id":14048,"section_number":"51.1-160","catch_line":"Cessation of disability retirement allowance","url":"\/51.1-160\/","token":"51.1\/1\/9\/51.1-160","metadata":false},{"id":65950,"structure_id":14048,"section_number":"51.1-161","catch_line":"Withdrawal of contributions before retirement","url":"\/51.1-161\/","token":"51.1\/1\/9\/51.1-161","metadata":false},{"id":68148,"structure_id":14048,"section_number":"51.1-162","catch_line":"Death before retirement","url":"\/51.1-162\/","token":"51.1\/1\/9\/51.1-162","metadata":false},{"id":64427,"structure_id":14048,"section_number":"51.1-163","catch_line":"Death after retirement","url":"\/51.1-163\/","token":"51.1\/1\/9\/51.1-163","metadata":false},{"id":63014,"structure_id":14048,"section_number":"51.1-164","catch_line":"Repealed","url":"\/51.1-164\/","token":"51.1\/1\/9\/51.1-164","metadata":false},{"id":71831,"structure_id":14048,"section_number":"51.1-165","catch_line":"Optional benefits","url":"\/51.1-165\/","token":"51.1\/1\/9\/51.1-165","metadata":false},{"id":82994,"structure_id":14048,"section_number":"51.1-165.01","catch_line":"Partial lump-sum option for payment of retirement allowance","url":"\/51.1-165.01\/","token":"51.1\/1\/9\/51.1-165.01","metadata":false},{"id":66610,"structure_id":14048,"section_number":"51.1-165.1","catch_line":"Acknowledgment by spouse of member","url":"\/51.1-165.1\/","token":"51.1\/1\/9\/51.1-165.1","metadata":false},{"id":83485,"structure_id":14048,"section_number":"51.1-166","catch_line":"Post-retirement supplements generally","url":"\/51.1-166\/","token":"51.1\/1\/9\/51.1-166","metadata":false},{"id":58384,"structure_id":14048,"section_number":"51.1-167","catch_line":"Retirement allowance to be reduced in certain cases","url":"\/51.1-167\/","token":"51.1\/1\/9\/51.1-167","metadata":false},{"id":57811,"structure_id":14048,"section_number":"51.1-168","catch_line":"Limits on creditable compensation; maximum benefits; mandatory payment of allowance","url":"\/51.1-168\/","token":"51.1\/1\/9\/51.1-168","metadata":false},{"id":83100,"structure_id":14048,"section_number":"51.1-169","catch_line":"Hybrid retirement program","url":"\/51.1-169\/","token":"51.1\/1\/9\/51.1-169","metadata":false}],"previous_section":{"id":71831,"structure_id":14048,"section_number":"51.1-165","catch_line":"Optional benefits","url":"\/51.1-165\/","token":"51.1\/1\/9\/51.1-165","metadata":false},"next_section":{"id":66610,"structure_id":14048,"section_number":"51.1-165.1","catch_line":"Acknowledgment by spouse of member","url":"\/51.1-165.1\/","token":"51.1\/1\/9\/51.1-165.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/51.1-165.01\/","history_text":"

This law was first created in 2001. The record of its establishment is cataloged in chapters 679<\/a> and 699<\/a> 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. It has been modified 1 time. 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. That modification is as follows: in 2002, chapter 404<\/a>.<\/p>","references":[{"id":64427,"section_number":"51.1-163","catch_line":"Death after retirement","order_by":null,"url":"\/51.1-163\/"}],"refers_to":[{"id":85181,"section_number":"51.1-153","catch_line":"Service retirement","order_by":null,"url":"\/51.1-153\/"},{"id":72358,"section_number":"51.1-155","catch_line":"Service retirement allowance","order_by":null,"url":"\/51.1-155\/"},{"id":64427,"section_number":"51.1-163","catch_line":"Death after retirement","order_by":null,"url":"\/51.1-163\/"},{"id":71831,"section_number":"51.1-165","catch_line":"Optional benefits","order_by":null,"url":"\/51.1-165\/"},{"id":57811,"section_number":"51.1-168","catch_line":"Limits on creditable compensation; maximum benefits; mandatory payment of allowance","order_by":null,"url":"\/51.1-168\/"},{"id":69138,"section_number":"51.1-205","catch_line":"Service retirement generally","order_by":null,"url":"\/51.1-205\/"},{"id":56709,"section_number":"51.1-206","catch_line":"Service retirement allowance","order_by":null,"url":"\/51.1-206\/"},{"id":58084,"section_number":"51.1-216","catch_line":"Service retirement generally","order_by":null,"url":"\/51.1-216\/"},{"id":81012,"section_number":"51.1-217","catch_line":"Service retirement allowance","order_by":null,"url":"\/51.1-217\/"},{"id":78359,"section_number":"51.1-305","catch_line":"Service retirement generally","order_by":null,"url":"\/51.1-305\/"},{"id":71752,"section_number":"51.1-306","catch_line":"Service retirement allowance","order_by":null,"url":"\/51.1-306\/"}],"permalink":{"id":235421,"object_type":"law","relational_id":82994,"identifier":"51.1-165.01","token":"51.1\/1\/9\/51.1-165.01","url":"\/51.1-165.01\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/51.1-165.01\/","token":"51.1\/1\/9\/51.1-165.01","dublin_core":{"Title":"Partial lump-sum option for payment of retirement allowance","Type":"Text","Format":"text\/html","Identifier":"\u00a7 51.1-165.01","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> For purposes of this section:\n\t\t\t“Normal retirement<\/span>” means normal retirement<\/span> as described in §§ 51.1-153<\/a>, 51.1-205<\/a>, 51.1-216<\/a> or § 51.1-305<\/a>, in accordance with the retirement plan covering the member<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The following members<\/span> are eligible to receive a portion of their retirement allowance<\/span> paid in a lump-sum distribution upon retirement as provided in this section: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Any retiring member<\/span> who (i) has satisfied the requirements for normal retirement<\/span> after January 1, 2004, or has been credited with at least three years of creditable service<\/span> for service performed after the date he was first eligible for an unreduced service retirement allowance<\/span> and (ii) was in service for at least three full years after January 1, 2001, is eligible to elect one of the partial lump-sum options described in either subdivision C 1, C 2, or C 3. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Any retiring member<\/span> who (i) has been credited with at least two years of creditable service<\/span> for service performed after the date he was first eligible for an unreduced service retirement allowance<\/span> and (ii) was in service for at least two full years after January 1, 2001, is eligible to elect one of the partial lump-sum options described in either subdivision C 1 or C 2. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Any retiring member<\/span> who (i) has been credited with at least one year of creditable service<\/span> for service performed after the date he was first eligible for an unreduced service retirement allowance<\/span> and (ii) was in service for at least one full year after January 1, 2001, is eligible to elect the partial lump-sum option described in subdivision C 1.\n\t\t\t\tFor purposes of this subsection, service of an employee<\/span> of a locality participating in the Retirement System<\/span> shall mean service for which retirement credit is granted under this chapter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> An eligible retiring member<\/span> may make a one-time election to receive a portion of his retirement allowance<\/span> paid in a lump-sum distribution upon his retirement. The monthly amount of the service retirement allowance<\/span> otherwise payable to such member<\/span> making the election shall be reduced on an actuarially equivalent basis to reflect the payment of such lump-sum distribution. Any optional payment of the retirement allowance<\/span>, pursuant to \u00a7 51.1-165<\/a>, shall also be based upon such reduced retirement allowance<\/span>. The computation and payment of any service retirement allowance<\/span> that is reduced on an actuarially equivalent basis to reflect the payment of a lump-sum distribution shall also reflect the provisions of subsection B of \u00a7 51.1-168<\/a> applicable to the total retirement benefit including the lump-sum distribution. An eligible retiring member<\/span> may elect one of the following partial lump-sum options pursuant to the limitations provided in subsection B: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A lump-sum distribution shall be paid to such member<\/span> upon his retirement equal to twelve times the monthly amount of his service retirement allowance<\/span> as determined in subsection A of § 51.1-155<\/a>, subsection A of § 51.1-206<\/a>, subsection A of § 51.1-217<\/a>, or subsection A of § 51.1-306<\/a>, in accordance with the retirement plan covering such member<\/span> but without regard to the limitation set forth in subsection B of § 51.1-168<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A lump-sum distribution shall be paid to such member<\/span> upon his retirement equal to twenty-four times the monthly amount of his service retirement allowance<\/span> as determined in subsection A of § 51.1-155<\/a>, subsection A of § 51.1-206<\/a>, subsection A of § 51.1-217<\/a>, or subsection A of § 51.1-306<\/a>, in accordance with the retirement plan covering such member<\/span> but without regard to the limitation set forth in subsection B of § 51.1-168<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> A lump-sum distribution shall be paid to such member<\/span> upon his retirement equal to thirty-six times the monthly amount of his service retirement allowance<\/span> as determined in subsection A of § 51.1-155<\/a>, subsection A of § 51.1-206<\/a>, subsection A of § 51.1-217<\/a>, or subsection A of § 51.1-306<\/a>, in accordance with the retirement plan covering such member<\/span> but without regard to the limitation set forth in subsection B of § 51.1-168<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The lump-sum distribution, if elected by the eligible retiring member<\/span>, shall be paid at the same time that the first monthly annuity payment is paid to such member<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Before an eligible retiring member<\/span> may make an election to receive a lump-sum distribution, such member<\/span> shall have been provided from the Retirement System<\/span> the amount by which his monthly retirement allowance<\/span> shall be reduced under each of the partial lump-sum options provided in subsection C, as available to such member<\/span>. No eligible retiring member<\/span> shall be allowed to make an election for a lump-sum distribution pursuant to this section more than once in his lifetime. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> The election of any one of the options stated in this section shall be void if the member<\/span> dies prior to the Board<\/span> receiving written notification of the member<\/span>’s effective date of retirement. If the death of the member<\/span> occurs prior to the effective date of retirement but after the Board<\/span> has received written notification of the member<\/span>’s effective date of retirement, benefits shall be paid in accordance with the provisions of § 51.1-163<\/a> and the requirement that the member<\/span> be in service shall not apply. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPARTIAL LUMP-SUM OPTION FOR PAYMENT OF RETIREMENT ALLOWANCE (\u00a7 51.1-165.01)\n\nA. For purposes of this section:\n\t\t\t“Normal retirement” means normal retirement as described in\n§§ 51.1-153, 51.1-205, 51.1-216 or § 51.1-305, in accordance with\nthe retirement plan covering the member.\n\nB. The following members are eligible to receive a portion of their retirement\nallowance paid in a lump-sum distribution upon retirement as provided in this\nsection:\n\n 1. Any retiring member who (i) has satisfied the requirements for normal\n retirement after January 1, 2004, or has been credited with at least three\n years of creditable service for service performed after the date he was first\n eligible for an unreduced service retirement allowance and (ii) was in service\n for at least three full years after January 1, 2001, is eligible to elect one\n of the partial lump-sum options described in either subdivision C 1, C 2, or C\n 3.\n\n 2. Any retiring member who (i) has been credited with at least two years of\n creditable service for service performed after the date he was first eligible\n for an unreduced service retirement allowance and (ii) was in service for at\n least two full years after January 1, 2001, is eligible to elect one of the\n partial lump-sum options described in either subdivision C 1 or C 2.\n\n 3. Any retiring member who (i) has been credited with at least one year of\n creditable service for service performed after the date he was first eligible\n for an unreduced service retirement allowance and (ii) was in service for at\n least one full year after January 1, 2001, is eligible to elect the partial\n lump-sum option described in subdivision C 1.\n \t\t\t\tFor purposes of this subsection, service of an employee of a locality\n participating in the Retirement System shall mean service for which retirement\n credit is granted under this chapter.\n\nC. An eligible retiring member may make a one-time election to receive a portion\nof his retirement allowance paid in a lump-sum distribution upon his retirement.\nThe monthly amount of the service retirement allowance otherwise payable to such\nmember making the election shall be reduced on an actuarially equivalent basis\nto reflect the payment of such lump-sum distribution. Any optional payment of\nthe retirement allowance, pursuant to \u00a7 51.1-165, shall also be based upon such\nreduced retirement allowance. The computation and payment of any service\nretirement allowance that is reduced on an actuarially equivalent basis to\nreflect the payment of a lump-sum distribution shall also reflect the provisions\nof subsection B of \u00a7 51.1-168 applicable to the total retirement benefit\nincluding the lump-sum distribution. An eligible retiring member may elect one\nof the following partial lump-sum options pursuant to the limitations provided\nin subsection B:\n\n 1. A lump-sum distribution shall be paid to such member upon his retirement\n equal to twelve times the monthly amount of his service retirement allowance\n as determined in subsection A of § 51.1-155, subsection A of §\n 51.1-206, subsection A of § 51.1-217, or subsection A of § 51.1-306,\n in accordance with the retirement plan covering such member but without regard\n to the limitation set forth in subsection B of § 51.1-168.\n\n 2. A lump-sum distribution shall be paid to such member upon his retirement\n equal to twenty-four times the monthly amount of his service retirement\n allowance as determined in subsection A of § 51.1-155, subsection A of\n § 51.1-206, subsection A of § 51.1-217, or subsection A of §\n 51.1-306, in accordance with the retirement plan covering such member but\n without regard to the limitation set forth in subsection B of § 51.1-168.\n\n 3. A lump-sum distribution shall be paid to such member upon his retirement\n equal to thirty-six times the monthly amount of his service retirement\n allowance as determined in subsection A of § 51.1-155, subsection A of\n § 51.1-206, subsection A of § 51.1-217, or subsection A of §\n 51.1-306, in accordance with the retirement plan covering such member but\n without regard to the limitation set forth in subsection B of § 51.1-168.\n\nD. The lump-sum distribution, if elected by the eligible retiring member, shall\nbe paid at the same time that the first monthly annuity payment is paid to such\nmember.\n\nE. Before an eligible retiring member may make an election to receive a lump-sum\ndistribution, such member shall have been provided from the Retirement System\nthe amount by which his monthly retirement allowance shall be reduced under each\nof the partial lump-sum options provided in subsection C, as available to such\nmember. No eligible retiring member shall be allowed to make an election for a\nlump-sum distribution pursuant to this section more than once in his lifetime.\n\nF. The election of any one of the options stated in this section shall be void\nif the member dies prior to the Board receiving written notification of the\nmember’s effective date of retirement. If the death of the member occurs\nprior to the effective date of retirement but after the Board has received\nwritten notification of the member’s effective date of retirement,\nbenefits shall be paid in accordance with the provisions of § 51.1-163 and\nthe requirement that the member be in service shall not apply.\n\nHISTORY: 2001, cc. 679, 699; 2002, c. 404.","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}}