VA HB1107

Allows Virginia Retirement System retirees hired by the Department of Corrections as correctional officers or licensed instructional employees to continue receiving their retirement allowance while working, provided they have a six-month break in service and are not receiving early retirement incentive benefits

Requires correctional officers returning to work under this provision to complete minimum training standards established by the Department of Criminal Justice Services within 12 months of hire, with failure resulting in termination of retirement allowance during employment

Specifies that service and compensation earned during return-to-work employment will not affect the retiree's existing retirement benefits, but such employees remain eligible for benefits under Chapter 6.1 (hybrid retirement plan)

Requires the employer (Department of Corrections) to include the returning retiree's compensation in membership payroll subject to employer contributions

Mandates actuarial investigations at least once every four years to assess the experience under this and similar return-to-work provisions for school employees and school security officers