{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/51.1-612.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/51.1-612.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/51.1-612.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/51.1-612.html"}],"law_id":69192,"edition_id":1,"section_id":69192,"structure_id":15827,"section_number":"51.1-612","catch_line":"Standards for cash match plans","history":"2002, c. 311.","full_text":"No cash match plan shall become effective until the Board, county, municipality, authority or other political subdivision of the Commonwealth is satisfied, by opinion of its respective counsel, such federal agency or agencies as may be deemed necessary, or otherwise, that the contribution thereunder or the investment products purchased pursuant to the plan (i) will not be included in the employee’s taxable income under federal or state law until it is actually received by the employee under the terms of the plan and (ii) that such contribution will not be deemed compensation at the time of the contribution for the purposes of social security coverage, for the purposes of the Virginia Retirement System, and for any other retirement, pension, or benefit program established by law.","order_by":null,"text":{"0":{"id":250338,"text":"No cash match plan shall become effective until the Board, county, municipality, authority or other political subdivision of the Commonwealth is satisfied, by opinion of its respective counsel, such federal agency or agencies as may be deemed necessary, or otherwise, that the contribution thereunder or the investment products purchased pursuant to the plan (i) will not be included in the employee’s taxable income under federal or state law until it is actually received by the employee under the terms of the plan and (ii) that such contribution will not be deemed compensation at the time of the contribution for the purposes of social security coverage, for the purposes of the Virginia Retirement System, and for any other retirement, pension, or benefit program established by law.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15827,"edition_id":1,"name":"Cash Match Plan","identifier":"6.1","label":"chapter","depth":2,"order_by":1,"parent_id":12947,"metadata":{},"date_created":"2026-06-26 04:00:14","date_modified":"2026-06-26 04:00:14","permalink":{"id":236205,"object_type":"structure","relational_id":15827,"identifier":"6.1","token":"51.1\/6.1","url":"\/51.1\/6.1\/","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":84500,"structure_id":15827,"section_number":"51.1-607","catch_line":"Definitions","url":"\/51.1-607\/","token":"51.1\/6.1\/51.1-607","metadata":false},{"id":70151,"structure_id":15827,"section_number":"51.1-608","catch_line":"Cash match plan for employees of the Commonwealth; administered by the Board","url":"\/51.1-608\/","token":"51.1\/6.1\/51.1-608","metadata":false},{"id":61074,"structure_id":15827,"section_number":"51.1-609","catch_line":"Contributions on behalf of qualified participants","url":"\/51.1-609\/","token":"51.1\/6.1\/51.1-609","metadata":false},{"id":61899,"structure_id":15827,"section_number":"51.1-610","catch_line":"Local cash match plans","url":"\/51.1-610\/","token":"51.1\/6.1\/51.1-610","metadata":false},{"id":73748,"structure_id":15827,"section_number":"51.1-611","catch_line":"Participation by employees of political subdivisions in cash match plan of Virginia Retirement System","url":"\/51.1-611\/","token":"51.1\/6.1\/51.1-611","metadata":false},{"id":69192,"structure_id":15827,"section_number":"51.1-612","catch_line":"Standards for cash match plans","url":"\/51.1-612\/","token":"51.1\/6.1\/51.1-612","metadata":false},{"id":72131,"structure_id":15827,"section_number":"51.1-613","catch_line":"Other retirement, pension, etc., systems not affected; 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This law was first created in 2002. The record of its establishment is cataloged in chapter 311<\/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.<\/p>","references":false,"refers_to":false,"permalink":{"id":236227,"object_type":"law","relational_id":69192,"identifier":"51.1-612","token":"51.1\/6.1\/51.1-612","url":"\/51.1-612\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/51.1-612\/","token":"51.1\/6.1\/51.1-612","dublin_core":{"Title":"Standards for cash match plans","Type":"Text","Format":"text\/html","Identifier":"\u00a7 51.1-612","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

No cash match plan<\/span> shall become effective until the Board<\/span>, county, municipality, authority or other political subdivision of the Commonwealth is satisfied, by opinion<\/span> of its respective counsel<\/span>, such federal agency or agencies as may be deemed necessary, or otherwise, that the contribution thereunder or the investment products purchased pursuant to the plan (i) will not be included in the employee’s taxable income under federal or state law<\/span> until it is actually received by the employee under the terms of the plan and (ii) that such contribution will not be deemed compensation at the time of the contribution for the purposes of social security coverage, for the purposes of the Virginia Retirement System, and for any other retirement, pension, or benefit program established by law<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSTANDARDS FOR CASH MATCH PLANS (\u00a7 51.1-612)\n\nNo cash match plan shall become effective until the Board, county, municipality,\nauthority or other political subdivision of the Commonwealth is satisfied, by\nopinion of its respective counsel, such federal agency or agencies as may be\ndeemed necessary, or otherwise, that the contribution thereunder or the\ninvestment products purchased pursuant to the plan (i) will not be included in\nthe employee’s taxable income under federal or state law until it is\nactually received by the employee under the terms of the plan and (ii) that such\ncontribution will not be deemed compensation at the time of the contribution for\nthe purposes of social security coverage, for the purposes of the Virginia\nRetirement System, and for any other retirement, pension, or benefit program\nestablished by law.\n\nHISTORY: 2002, c. 311.","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}}