Retirement System; authority to manage and invest certain funds for postemployment benefits. (HB1827)
Introduced By
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Virginia Retirement System; authority to manage and invest certain funds. Authorizes the Virginia Retirement System to manage and invest funds in a trust or equivalent arrangement established by a local government or other local entity to fund certain postemployment benefits. The bill would provide that the Commonwealth would not be liable for any losses suffered by a local entity, or a trust or equivalent arrangement established by the local entity, on investments of such funds made by the Virginia Retirement System. In addition, no officer, director, or member of the Board of the Virginia Retirement System or of any advisory committee thereof or any subsidiary corporation of the Virginia Retirement System whose actions are within the standard of care of a prudent person acting in a like capacity would be liable for any investment losses. Read the Bill »
Outcome
History
| Date | Action |
|---|---|
| 01/12/2009 | Committee |
| 01/12/2009 | Prefiled and ordered printed; offered 01/14/09 091106504 |
| 01/12/2009 | Referred to Committee on Appropriations |
| 01/19/2009 | Assigned App. sub: Compensation and Retirement (Jones, S.C.) |
| 01/19/2009 | Assigned App. sub: Compensation and Retirement (Hogan, Clarke N.) |
| 01/21/2009 | Impact statement from VRS (HB1827) |
| 02/10/2009 | Left in Appropriations |