30-79 - Purpose. - Virginia Statutes

§ 30-79. Purpose.

A. Section 11 of Article X of the Constitution of Virginia (1971) requiresthat the General Assembly maintain a state employees retirement system to beadministered in the best interest of the beneficiaries thereof. In order tofulfill this duty, continuing legislative oversight of the VirginiaRetirement System ("Retirement System" or "System") is essential.

B. The General Assembly hereby designates the Joint Legislative Audit andReview Commission ("Commission") to oversee and evaluate the VirginiaRetirement System on a continuing basis and to make such special studies andreports as may be requested by the General Assembly, the House AppropriationsCommittee, or the Senate Finance Committee.

(1994, cc. 3, 732.)