University of Virginia Library

AMENDMENT TO THE COMMONWEALTH OF VIRGINIA MATCHING CONTRIBUTION RETIREMENT PLAN FOR SALARIED EMPLOYEES OF THE UNIVERSITY OF VIRGINIA AND THE UNIVERSITY OF VIRGINIA MEDICAL CENTER

The following resolution was adopted:

WHEREAS, the Commonwealth of Virginia required by statute that the University of Virginia offer its employees an opportunity to receive a contribution based on employee contributions to its voluntary retirement savings program; and

WHEREAS, the University of Virginia established the Commonwealth of Virginia Matching Contribution Retirement Plan for Salaried Employees of the University of Virginia and the University of Virginia Medical Center (hereinafter "Plan"); and,

WHEREAS, the Plan contains an eligibility term that requires employees to work at the University for 12 months before receiving a match, while other institutions of higher education require only 12 months of state (Commonwealth of Virginia) service; and,

WHEREAS, the University considers recruitment of new employees an important function of the benefit plans that it offers;

RESOLVED that the University adopts in all material respects the First Amendment to the Commonwealth of Virginia Matching Contribution Retirement Plan for Salaried Employees of the University of Virginia and the University of Virginia Medical Center, attached as Appendix A.