Terms Used In Virginia Code > Title 51.1 > Chapter 6.2 - Public School Teacher Supplemental Retirement

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authority: means an authority created under the provisions of § Virginia Code 15.2-5101
• Board: means the Board of Trustees of the Virginia Retirement System. See Virginia Code 51.1-617
• County: means any existing county or such unit hereafter created. See Virginia Code 15.2-102
• Eligible employee: means any turnaround specialist or member of the middle school teacher corps providing services for a participating public school division pursuant to subsections E and F of § Virginia Code 51.1-617
• Federal agency: means the United States of America or any department, agency, instrumentality, or bureau thereof. See Virginia Code 15.2-5101
• Governing body: means the board of supervisors of a county, council of a city, or council of a town, as the context may require. See Virginia Code 15.2-102
• inhabitants: means with reference to any county, city, town, political subdivision of the Commonwealth or any combination thereof, the natural persons in such county, city, town, political subdivision or combination as shown by the unadjusted United States decennial census last preceding the time at which any provision dependent upon population is being applied or the time as of which it is being construed. See Virginia Code 1-235
• Owner: includes persons, federal agencies, and units of the Commonwealth having any title or interest in any system, or the services or facilities to be rendered thereby. See Virginia Code 15.2-5101
• Participating employer: means any local public school board that offers and pays the costs of improved retirement benefits as described in subsections E and F of § Virginia Code 51.1-617
• Plan: means the defined contribution plan established pursuant to this chapter and the provisions of § 401 (a) of the Internal Revenue Code of 1986, as amended. See Virginia Code 51.1-617
• revenue bonds: include notes, bonds, bond anticipation notes, and other obligations of an authority for the payment of money. See Virginia Code 15.2-5101
• System: means any sewage disposal system, sewer system, stormwater control system, water or waste system, and for authorities created under Article 6 (§ Virginia Code 15.2-5101
• Unit: means any department, institution or commission of the Commonwealth; any public corporate instrumentality thereof; any district; or any locality. See Virginia Code 15.2-5101