Virginia § 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 for postemployment benefits other than pensions

Virginia § 15.2-1549

Title 15.2COUNTIES, CITIES AND TOWNS

Subtitle IIPOWERS OF LOCAL GOVERNMENT

Ch. 15LOCAL GOVERNMENT PERSONNEL, QUALIFICATION FOR OFFICE, BONDS, DUAL OFFICE HOLDING AND CERTAIN LOCAL GOVERNMENT OFFICERS

Art. 8LOCAL TRUSTS TO FUND POSTEMPLOYMENT BENEFITS OTHER THAN PENSIONS

This text of Virginia § 15.2-1549 (Investment of assets of trusts or equivalent arrangement for postemployment benefits other than pensions) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 15.2-1549 (2026).

Text

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 § 15.2-1547, 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 § 51.1-803 and such investments shall not be limited by Chapter 45 (§ 2.2-4500 et seq.) of Title 2.2.

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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 § 15.2-1547, 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 § 51.1-803 and such investments shall not be limited by Chapter 45 (§ 2.2-4500 et seq.) of Title 2.2.