51.1-1200 - Fund established; administration and management; Volunteer Firefighters' and Rescue Squad Workers' Service Award Fund Board. - Virginia Statutes

§ 51.1-1200. Fund established; administration and management; VolunteerFirefighters' and Rescue Squad Workers' Service Award Fund Board.

There is hereby created a fund to be known and designated as the "VolunteerFirefighters' and Rescue Squad Workers' Service Award Fund" (the Fund). TheFund is established to provide service awards to eligible volunteerfirefighters and rescue squad workers who elect to become members of theFund. The Volunteer Firefighters' and Rescue Squad Workers' Service AwardFund Board (the Board) shall utilize the assistance of the VirginiaRetirement System in establishing, investing, and maintaining the Fund. TheBoard of Trustees of the Virginia Retirement System shall administer andmanage the investment of the Fund as custodian and provide staff to furthercarry out the provisions of this chapter. The Virginia Retirement Systemshall invest the Funds in accordance with Article 3.1 (§ 51.1-124.30 et seq.)of Chapter 1 of this title. The Fund shall annually reimburse the VirginiaRetirement System for all costs incurred and associated, directly andindirectly, with the administration of this chapter and management andinvestment of the Fund.

(1999, cc. 664, 860; 2001, c. 672.)