Insurance and Benefits

Pension Fund
4:47 pm
Mon July 14, 2014

Virginia Retirement System

The return on Virginia Retirement System investments fell 21% in 2009—but the pension fund has now rebounded and is exceeding expectations. That’s the message delivered by VRS officials to state lawmakers.

VRS investments yielded returns that increased by double digits in the last two fiscal years, with a 15.7% return last year alone.  VRS Board Vice Chairman Robert Greene said the fund set a record.

“The fund amount, $66.1 billion, makes an historic high for the fund, exceeding all previous fund balance amounts.”

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Deadline for Health Insurance Options
4:46 pm
Tue May 21, 2013

State Employees See Insurance Changes

Tens of thousands of state employees will likely see an increase in the cost of their health insurance plans. 

They also face a deadline this week,  as the Commonwealth begins to implement significant changes in its health insurance plans. 

Open enrollment for revising health benefits, investing in flexible spending accounts, adding family members, and other options ends this Friday.

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Federal Insurance Exchange
9:59 am
Mon April 1, 2013

Governor Seeks to Ban Abortion Coverage

State lawmakers are again taking sides in the battle over abortion. 

Governor McDonnell is now asking legislators to impose a limit on insurance policies to be sold here through a federal exchange – a place where Virginians who don’t have coverage through work or school can buy it.

In 2014, Virginians will be able to buy health insurance through a federally run exchange.  Some consumers will be eligible for tax breaks to help cover the cost of a policy, and for that reason organizations like the Family Foundation want to exclude abortion from coverage.  

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