15.2-1549 - Investment of assets of trusts or equivalent arrangement for postemployment benefits other than pensions. - Virginia Statutes

§ 15.2-1549. Investment of assets of trusts or equivalent arrangement forpostemployment benefits other than pensions.

All funds appropriated to a trust or equivalent arrangement forpostemployment benefits other than pensions, as defined in § 15.2-1545, andall funds accrued from the investment of any such funds that are on hand atany time and are not necessary for immediate payment of benefits shall beinvested by the finance board, by any person or entity serving as analternative thereto pursuant to § 15.2-1547, or by an investment manager whois serving as a trustee of the funds. All such funds shall be invested inaccordance with the prudent person standard established by § 51.1-803 andsuch investments shall not be limited by Chapter 45 (§ 2.2-4500 et seq.) ofTitle 2.2.

(2007, c. 710.)