A. The insurance provided for in this chapter, including any optional insurance, and all proceeds therefrom shall be exempt from levy, garnishment, and other legal process, except (i) as provided in subsection B and (ii) for administrative actions pursuant to Chapter 19 (§ 63.2-1900 et seq.) of Title 63.2 or any court process to enforce a child or child and spousal support obligation. However, the insured may make a voluntary, irrevocable assignment of his group life insurance and any individual conversion policy that may be issued upon termination of his group life insurance by executing an assignment on a form prepared by the Board of Trustees of the Virginia Retirement System.
B. From any insurance proceeds payable pursuant to this chapter to a retiree's beneficiaries, the Board may deduct any overpayment of retirement allowance paid to such retiree.
1960, c. 604, § 51-111.67:8; 1980, c. 643, § 51-111.67:12.1; 1990, c. 832; 1994, c. 883; 1997, c. 273; 2008, c. 354.
Notes of Decisions
Cited in
4
cases (
1 in the last 5 years), 2005–2023 · leading case:
Crawford v. Haddock, 621 S.E.2d 127 (Va. 2005).
Crawford v. Haddock, 621 S.E.2d 127 (Va. 2005).
· cites it 21× “In this appeal, we consider whether the trial court erred in its judgment that Code § 51.1-510 bars imposition of a constructive trust upon proceeds from a Virginia Retirement System group life insurance policy.”
Sexton v. Cornett, 623 S.E.2d 898 (Va. 2006).
· cites it 2× “Code § 51.1-510, pertaining to VRS life insurance, provides in pertinent part: "[T]he insurance provided for in this chapter, including any optional insurance, and all proceeds therefrom shall be exempt from levy, garnishment, and other legal process.”
Anne G. Shropshire v. Virginia Ret. Sys., 632 S.E.2d 601 (Va. Ct. App. 2006).
“2 or any court process to enforce a child or child and spousal support obligation, nor shall any assignment thereof, other than a voluntary, irrevocable assignment of group life insurance pursuant to § 51.1-510, be enforceable in any court. However, retirement benefits and…”
Parker v. Martin (E.D. Va. 2023).
· cites it 3× “2006) (citing Va. Code §§ 51.1-510, 124.4). Further, “[t]he designation of a per- son as beneficiary under a life insurance policy is a gift from the insured.”
— Va. Code Ann. § 51.1-510(A) — 1 case
Crawford v. Haddock, 621 S.E.2d 127 (Va. 2005).
“In this appeal, we consider whether the trial court erred in its judgment that Code § 51.1-510 bars imposition of a constructive trust upon proceeds from a Virginia Retirement System group life insurance policy.”
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