ADMINISTRATION

Richmond, Va., City Code ch. 22, art. II

in effect

Richmond, Va., City Code § 22-41 Administration of system.

Sec. 22-41. - Administration of system. The Board shall have the responsibility of: (1) The supervision of the administration of the retirement plan; (2) The determination of eligibility for the receipt of retirement benefits; (3) The award of retirement benefits as authorized by ordinance; and (4) Such other duties as have been exercised by the Board of Trustees of the system prior to the effective date of the ordinance from which this chapter is derived. (Code 1993, § 23.1-12; Code 2004, § 78-41; Code 2015, § 22-41; Code 2020, § 22-41)

Richmond, Va., City Code § 22-42 Board of Trustees generally.

Sec. 22-42. - Board of Trustees generally. (a) Each member of the Board of Trustees of the Richmond Retirement System shall discharge such member's duties with the care, skill, prudence, and diligence of a prudent person acting in like capacity and familiar with such matters. (b) The members of the Board shall be appointed by City Council for terms of three years, and the Board shall consist of seven trustees, two of whom shall be members of the classified service. (c) If a vacancy occurs in the office of a trustee, the vacancy shall be filled for the unexpired term in the same manner as the office was previously filled. (d) Each trustee shall be entitled to one vote on the Board, and a majority of its members shall constitute a quorum. (Code 1993, § 23.1-13; Code 2004, § 78-42; Code 2015, § 22-42; Code 2020, § 22-42)

Richmond, Va., City Code § 22-43 Payment of trustees attending regular monthly meetings.

Sec. 22-43. - Payment of trustees attending regular monthly meetings. In any month in which a member of the Board of Trustees of the Richmond Retirement System, other than a member who is an employee of the City, attends the regular monthly meeting of the Board, the trustee so attending shall be entitled to receive the sum of $150.00 for the month, which payments shall be made from funds of the system generated from the earnings on investments. (Code 1993, § 23.1-14; Code 2004, § 78-43; Code 2015, § 22-43; Code 2020, § 22-43)

Richmond, Va., City Code § 22-44 Election and appointment of Board officers; employment of services and expenses.

Sec. 22-44. - Election and appointment of Board officers; employment of services and expenses. The Board of Trustees of the Richmond Retirement System shall elect from its membership a Chair and a Vice-Chair. The Board may employ actuarial, legal, medical and other services as shall be required as its technical advisors and incur such expenditures as it deems necessary for the efficient administration of this chapter within the limitations of funds provided by the City Council for that purpose. (Code 1993, § 23.1-15; Code 2004, § 78-44; Code 2015, § 22-44; Code 2020, § 22-44)

Richmond, Va., City Code § 22-45 Rules and regulations of Board; authority to interpret terms.

Sec. 22-45. - Rules and regulations of Board; authority to interpret terms. Subject to the limitations of this chapter, the Board of Trustees of the Richmond Retirement System shall, from time to time, establish rules and regulations for the administration of the system and for the transaction of its business. The Board shall have the authority to interpret the terms of this chapter and to make determinations with respect to eligibility and benefits under the system in a manner consistent with this chapter. (Code 1993, § 23.1-16; Code 2004, § 78-45; Code 2015, § 22-45; Code 2020, § 22-45)

Richmond, Va., City Code § 22-46 Record of proceedings.

Sec. 22-46. - Record of proceedings. The Board of Trustees of the Richmond Retirement System shall keep a record of all of its proceedings. To the extent otherwise permitted by law, such record shall not be a public record, but shall be open to inspection only by the members or by their duly authorized representatives and by such persons as shall be allowed by the Board for the purpose of administering this chapter. (Code 1993, § 23.1-17; Code 2004, § 78-46; Code 2015, § 22-46; Code 2020, § 22-46)

Richmond, Va., City Code § 22-47 Board's legal advisor.

Sec. 22-47. - Board's legal advisor. The City Attorney shall be the legal advisor of the Board of Trustees of the Richmond Retirement System unless internal conflict exists that would warrant outside legal counsel. (Code 1993, § 23.1-18; Code 2004, § 78-47; Code 2015, § 22-47; Code 2020, § 22-47)

Richmond, Va., City Code § 22-48 Appointment of Executive Director as administrative officer; administrative agency of Board.

Sec. 22-48. - Appointment of Executive Director as administrative officer; administrative agency of Board. The Board of Trustees of the Richmond Retirement System shall appoint an Executive Director of the Board, who shall be the administrative officer of the Board and who shall perform such duties as the Board may require, which may include assisting in administering the fiscal and financial affairs of the Board. The Executive Director shall be a member of the unclassified service and shall be responsible to the Board for the performance of the Executive Director's duties and shall be the head of the administrative agency for carrying out the responsibilities of the Retirement Board. (Code 1993, § 23.1-19; Code 2004, § 78-48; Code 2015, § 22-48; Code 2020, § 22-48; Ord. No. 2008-165-167, § 1, 7-14-2008)

Richmond, Va., City Code § 22-49 Correction of changes or errors in records resulting in erroneous payments.

Sec. 22-49. - Correction of changes or errors in records resulting in erroneous payments. (a) Should any change or error in records result in any member or beneficiary receiving from the Richmond Retirement System more or less than the member or beneficiary would have been entitled to receive had the records been correct, on discovery of any such error the Board shall correct it and, as far as practicable, shall adjust the payments in such a manner that the actuarial equivalent of the benefit to which such member or beneficiary was correctly entitled shall be paid. (b) If a member or beneficiary has been overpaid through no fault of the member or beneficiary and could not reasonably have been expected to detect the error, the Board may waive any repayment which it believes would cause hardship. (Code 1993, § 23.1-20; Code 2004, § 78-49; Code 2015, § 22-49; Code 2020, § 22-49)

Richmond, Va., City Code § 22-50 Written application for retirement benefits.

Sec. 22-50. - Written application for retirement benefits. (a) In order to receive payment for any benefit, which becomes payable from the system, a member or his beneficiary shall complete the application and other forms prescribed by the system for approval by the Board. The Board shall have the authority to establish reasonable procedures governing the application for any benefits payable under the system. Such procedures shall be set forth in the administrative procedures manual maintained by the Board. For service retirement, the written application shall not be more than 90 days prior to or subsequent to the effective retirement date. For early service retirement, the written application shall not be more than 90 days prior to the effective retirement date. (b) In order to participate in the deferred retirement option program (DROP) established pursuant to Section 22-204, a member shall complete the application and other forms required by this section for retirement benefits as well as any other forms and applications required under guidelines established pursuant to Section 22-204. (Code 1993, § 23.1-21; Code 2004, § 78-50; Code 2015, § 22-50; Code 2020, § 22-50; Ord. No. 2003-254-226, § 1, 7-28-2003)

Richmond, Va., City Code § 22-51 Medical examiners.

Sec. 22-51. - Medical examiners. The Board of Trustees of the Richmond Retirement System shall, from time to time, employ a minimum of three physicians, practicing in the City, upon such terms and conditions as the Board may prescribe. It shall be the duty of a medical examiner, at the request of the Board, to conduct or approve all medical examinations required under this chapter or by the Board. If such a request is made, a medical examiner shall investigate all health or medical statements and certificates made by or in behalf of any person in connection with the payment of money to such person under this chapter and shall report in writing to the Board pertinent conclusions and recommendations. (Code 1993, § 23.1-22; Code 2004, § 78-51; Code 2015, § 22-51; Code 2020, § 22-51)

Richmond, Va., City Code § 22-52 Designation and duties of actuary; certification of contribution rates; adoption of tables.

Sec. 22-52. - Designation and duties of actuary; certification of contribution rates; adoption of tables. (a) The Board shall designate an actuary or actuarial consulting firm who shall be the technical advisor of the Board on matters regarding the operation of the Richmond Retirement System and who shall perform such other duties as are required. (b) The Board shall certify, from time to time, the rates of contribution payable under this chapter and shall adopt for the system, from time to time, such mortality, service and other actuarial tables as shall be deemed necessary. On the basis of such tables, the actuary shall make annually an actuarial valuation of the assets and liabilities of the system, which shall include, without limitation, a calculation of the actuarial liability, actuarial value of assets, and the actuarially defined contribution. At least once in each five-year period, the Board shall cause an actuarial investigation to be made into the mortality, service and compensation experience of the members and beneficiaries of the system. Such investigation shall be used as a basis for revisions to existing actuarial tables or the adoption of additional actuarial tables to be used to value the assets and liabilities of the system. (Code 1993, § 23.1-23; Code 2004, § 78-52; Code 2015, § 22-52; Code 2020, § 22-52; Ord. No. 2023-313, § 6, 11-13-2023)

Richmond, Va., City Code § 22-53 Valuations.

Sec. 22-53. - Valuations. The Board shall authorize a valuation to be made as of July 1 of each year of the assets and liabilities of the Richmond Retirement System and shall prepare an annual statement of the amounts to be contributed by the participating employers under this chapter. (Code 1993, § 23.1-24; Code 2004, § 78-53; Code 2015, § 22-53; Code 2020, § 22-53)

Richmond, Va., City Code § 22-54 Publication of valuations and account.

Sec. 22-54. - Publication of valuations and account. The Board shall publish annually a valuation of the assets and liabilities and a statement of receipts and disbursements of the Richmond Retirement System. (Code 1993, § 23.1-25; Code 2004, § 78-54; Code 2015, § 22-54; Code 2020, § 22-54)

Source: City of Richmond, Virginia, Code (2026 recodification) and Charter (Municode Library, library.municode.com)URL: https://library.municode.com/va/richmond/codes/code_of_ordinances?nodeId=PTIICICO_CH22PURE_ARTIIADFetched: 11/8/2026