                                 CODE OF VIRGINIA

EMPLOYEES; EMPLOYMENT; PERSONNEL RULES; HEALTH INSURANCE; RETIREMENT PLANS (§
62.1-129.1)

A. Employees of the Authority shall be employed on such terms and conditions as
established by the Authority. The Board of Commissioners of the Authority shall
develop and adopt personnel rules, policies, and procedures to give its
employees grievance rights, ensure that employment decisions shall be based upon
the merit and fitness of applicants, and prohibit discrimination because of
race, religion, color, sex, sexual orientation, gender identity, or national
origin.

B. The Authority shall issue a written notice to its employees regarding the
Authority&#8217;s status. The date upon which such written notice is issued
shall be referred to herein as the &#8220;option date.&#8221; Each employee may,
by written request made within 180 days of the option date, elect not to become
employed by the Authority. Any employee of the Virginia Port Authority who: (i)
elects not to become employed by the Authority and who is not reemployed by any
other department, institution, board, commission or agency of the Commonwealth;
(ii) is not offered the opportunity to remain employed by the Authority; or
(iii) is not offered a position with the Authority for which the employee is
qualified or is offered a position that requires relocation or a reduction in
salary, shall be eligible for the severance benefits conferred by the provisions
of the Workforce Transition Act (&#xA7; 2.2-3200 et seq.). Any employee who
accepts employment with the Authority shall not be considered to be
involuntarily separated from state employment and shall not be eligible for the
severance benefits conferred by the Workforce Transition Act.

C. Any employee of the Authority who is a member of any plan providing health
insurance coverage pursuant to Chapter 28 (&#xA7; 2.2-2800 et seq.) of Title
2.2, shall continue to be a member of such health insurance plan under the same
terms and conditions. Notwithstanding subsection A of &#xA7; 2.2-2818, the costs
of providing health insurance coverage to such employees who elect to continue
to be members of the state employees&#8217; health insurance plan shall be paid
by the Authority. Alternatively, an employee may elect to become a member of any
health insurance plan established by the Authority. The Authority is authorized
to: (i) establish a health insurance plan for the benefit of its employees and
(ii) enter into agreements with the Department of Human Resource Management
providing for the coverage of its employees under the state employees&#8217;
health insurance plan, provided that such agreement requires the Authority to
pay the costs of providing health insurance coverage under such plan.

D. Any retired employee of the Authority shall be eligible to receive the health
insurance credit set forth in &#xA7; 51.1-1400 provided the retired employee
meets the eligibility criteria set forth in that section.

E. Any Authority employee who is a member of the Virginia Retirement System or
other retirement plan as authorized by Article 4 (§ 51.1-125 et seq.) of
Chapter 1 of Title 51.1, shall continue to be a member of the Virginia
Retirement System or other authorized retirement plan under the same terms and
conditions. Alternatively, such employee may elect to become a member of the
retirement program established by the Authority for the benefit of its employees
pursuant to § 51.1-126.4. The following rules shall apply:

   1. The Authority shall collect and pay all employee and employer contributions
   to the Virginia Retirement System or other such authorized retirement plan for
   retirement and group life insurance in accordance with the provisions of
   Chapter 1 (&#xA7; 51.1-124.1 et seq.) of Title 51.1 for any employee who
   elects to remain a member of the Virginia Retirement System or other such
   authorized retirement plan.

   2. Employees who elect to become members of the alternative retirement plan
   established by the Authority pursuant to &#xA7; 51.1-126.4 shall be given full
   credit for their creditable service as defined in &#xA7; 51.1-124.3, and
   vesting and benefit accrual under the retirement plan. For any such employee,
   employment with the Authority shall be treated as employment with any
   nonparticipating employer for purposes of the Virginia Retirement System or
   other retirement plan authorized pursuant to Article 4 (&#xA7; 51.1-125 et
   seq.) of Chapter 1 of Title 51.1.

   3. For employees who elect to become members of the alternative retirement
   plan established by the Authority, the Virginia Retirement System or other
   such authorized plan shall transfer to the alternative retirement plan
   established by the Authority, assets equal to the actuarially determined
   present value of the accrued basic benefits as of the transfer date. For
   purposes hereof, the &#8220;basic benefits&#8221; means the benefits accrued
   under the Virginia Retirement System or other such authorized retirement plan
   based on creditable service and average final compensation as defined in
   &#xA7; 51.1-124.3. The actuarial present value shall be determined by using
   the same actuarial factors and assumptions used in determining the funding
   needs of the Virginia Retirement System or other such authorized retirement
   plan so that the transfer of assets to the alternative retirement plan
   established by the Authority will have no effect on the funded status and
   financial stability of the Virginia Retirement System or other such authorized
   retirement plan. The Authority shall reimburse the Virginia Retirement System
   for the cost of actuarial services necessary to determine the present value of
   the accrued basic benefit of employees who transfer to an Authority retirement
   plan.

   4. The Authority may provide that employees of the Authority who are eligible
   to participate in the deferred compensation plan sponsored by the Authority
   shall be enrolled automatically in such plan, unless such employee elects, in
   a manner prescribed by the Board, not to participate. The amount of the
   deferral under the automatic enrollment and the group of employees to which
   the automatic enrollment shall apply shall be set by the Board; provided
   however, that such employees are provided the opportunity to increase or
   decrease the amount of the deferral in accordance with the Internal Revenue
   Code of 1986, as amended.

HISTORY: 1997, c. 232; 2000, cc. 66, 657; 2008, cc. 325, 621; 2020, c. 1137.