30-84 - Funding for Commission's oversight activities. - Virginia Statutes

§ 30-84. Funding for Commission's oversight activities.

The Commission's reasonable and necessary expenses related to its dutiesunder this chapter shall be paid by the Retirement System and shall be borneby each trust fund in the System in the same ratio as the assets of eachtrust fund, as of the preceding June 30, bear to the total trust funds of theSystem on that date. On or before September 30 of each year, the Commissionshall submit to the Board of Trustees of the Virginia Retirement System anitemized estimate for the next fiscal year of the amounts necessary to paythe Commission's expenses related to its duties under this chapter and shallinclude the estimate as part of the agency's budget submission to the HouseCommittee on Appropriations and the Senate Committee on Finance.

(1994, cc. 3, 732; 2005, c. 633.)