Retirement System; authority to manage and invest certain funds. (HB289)

Introduced By

Del. Morgan Griffith (R-Salem)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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 provides 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 »


Bill Has Failed


01/11/2010Prefiled and ordered printed; offered 01/13/10 10101769D
01/11/2010Referred to Committee on Appropriations
01/19/2010Assigned App. sub: Compensation and Retirement
01/25/2010Impact statement from VRS (HB289)
01/28/2010Subcommittee recommends no action
02/16/2010Left in Appropriations