SECTION 15.2-1549. Investment of assets of trusts or equivalent arrangement for postemployment benefits other than pensions, ARTICLE 8. Local Trusts to Fund Postemployment Benefits Other Than Pensions, CHAPTER 15. Local Government Personnel, Qualification for Office, Bonds, Dual Office Holding and Certain Local Government Officers, SUBTITLE II. Powers of Local Government, TITLE 15.2. Counties, Cities and Towns, Code of Virginia

Code of Virginia (Last Updated:July 28, 2020)

CHAPTER 15. Local Government Personnel, Qualification for Office, Bonds, Dual Office Holding and Certain Local Government Officers

ARTICLE 8. Local Trusts to Fund Postemployment Benefits Other Than Pensions

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

All funds appropriated to a trust or equivalent arrangement for postemployment benefits other than pensions, as defined in § 15.2-1545 , and all funds accrued from the investment of any such funds that are on hand at any time and are not necessary for immediate payment of benefits shall be invested by the finance board, by any person or entity serving as an alternative thereto pursuant to § 15.2-1545 , or by an investment manager who is serving as a trustee of the funds. All such funds shall be invested in accordance with the prudent person standard established by § 15.2-1545 and such investments shall not be limited by Chapter 45 (§ 15.2-1545 et seq.) of Title 2.2.

2007, c. 15.2-1545 .