51.1-1206 - Other distributions.
§ 51.1-1206. Other distributions.
The Board shall direct payment in lump sums from the Fund as follows:
1. To any eligible volunteer firefighter or eligible volunteer rescue squadworker upon attaining age sixty who has at least five but less than ten yearsof creditable service as an eligible volunteer, an amount equal to (i) theamount paid into the Fund by him plus (ii) the amount paid into the Fund onhis behalf by his fire department or rescue squad plus (iii) the amount paidinto the Fund on his behalf by his local government plus (iv) the amount paidinto the Fund on his behalf by any other source plus (v) a portion of theamount paid into the Fund, on his behalf, from the general fund of the statetreasury pursuant to § 51.1-1204 plus (vi) any investment gains less anylosses on the amounts paid into the Fund described under clauses (i) through(v). The portion of the amount paid from the general fund on behalf of suchperson that shall be paid to such person shall be based upon such person'syears of creditable service as follows:
Years of creditable Portion of general fund contributions
service to be paid
At least five but
less than six Five percent of general fund contributions
At least six but
less than seven Ten percent of general fund contributions
At least seven but
less than eight Twenty-five percent of general fund contributions
At least eight but
less than nine Forty-five percent of general fund contributions
At least nine but
less than ten Seventy percent of general fund contributions
In any case where the person shall be paid less than 100 percent of thegeneral fund contributions made on his behalf, the investment gain orinvestment loss applicable to such contributions that shall be paid, orsubtracted from any payment otherwise required, to such person shall equalthe amount of the investment gain or investment loss, applicable to suchcontributions at the time of payment, multiplied by the percentage of suchgeneral fund contributions to be paid to the person as determined under thissubdivision.
2. If the eligible volunteer firefighter or volunteer rescue squad memberceases to serve as a volunteer and has less than five years of creditableservice upon attaining age sixty, such person shall not be paid, nor have anyright or interest in, the amount paid into the Fund on his behalf (i) by hisfire department or rescue squad, (ii) from the general fund of the statetreasury pursuant to § 51.1-1204, or (iii) by any local government. Suchperson shall, however, be paid all contributions to the Fund that he has madeplus the applicable portion of any investment gains or losses thereon.
The amount paid into the Fund on his behalf by his fire department or rescuesquad shall remain in the Fund and shall be deemed additional contributionsmade by such fire department or rescue squad. The amount paid into the Fundon his behalf from the general fund of the state treasury shall remain in theFund and shall be deemed additional contributions made from the general fundof the state treasury. The amount paid into the Fund on his behalf from alocal government shall remain in the Fund and shall be deemed additionalcontributions from such local government.
3. The provisions of this section shall not be construed to preclude anyeligible volunteer firefighter or eligible volunteer rescue squad worker fromcompleting the requisite number of years of active service, after attainingthe age of sixty, necessary to entitle him to the distribution provided forin § 51.1-1205.
4. If an eligible volunteer firefighter or eligible volunteer rescue squadworker dies before a service award is otherwise paid to him under theprovisions of this chapter and while he is an eligible volunteer, there shallbe paid to his beneficiary an amount equal to the contributions he has made,the matching contributions made on his behalf, and any investment gains onsuch contributions less any losses. If an eligible volunteer firefighter oreligible volunteer rescue squad worker dies before a service award isotherwise paid to him under the provisions of this chapter and while he is nolonger an eligible volunteer, there shall be paid to his beneficiary anamount equal to the amount paid into the Fund by the volunteer and anyinvestment gains on that amount, less any losses. For purposes of thissection, a member's beneficiary is the person or persons the member may nameon a form prepared by the Board, signed by the member and filed in a mannerprescribed by the Board. If there are no such persons, then his beneficiaryshall be his spouse; if there is no spouse, then his living children equally;if there are no children, then his heirs-at-law as may be determined by theBoard; or if there are no heirs, then his estate, if it is administered.
5. To any firefighter or rescue squad worker withdrawing from the Fund, uponproper application, all moneys he contributed to the Fund less any investmentlosses, and an administrative fee of twenty-five dollars.
(1999, cc. 664, 860; 2001, c. 672; 2002, c. 349.)