reglab/housing_qa huggingface dataset:
VA Code § 51.1-124.30:1 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-124.30:1. Adoption of stress testing and reporting policies

The Virginia Retirement System (VRS) shall adopt a formal policy to:1. Develop and regularly report sensitivity and stress test analyses. Such analyses and reporting shall include projections of benefit levels, pension costs, liabilities, and debt reduction under various economic and investment scenarios;2. Improve investment transparency and reporting policy by (i) providing a clear and detailed online statement of investment policy; (ii) including one-year, three-year, five-year, and 10-year investment performance data in quarterly investment reports; (iii) including 20-year and 25-year investment performance data in annual investment reports; (iv) reporting net investment returns on a quarterly basis; and (v) reporting gross investment returns and returns by asset class on an annual basis; and3. Regularly report investment performance and expenses such as external manager fees, carried interest fees, and investment department expenses for all asset classes, including private equity, public equity, fixed income, credit strategies, real assets, strategic opportunities, and other investments.2017, c. 639.
VA Code § 51.1-124.31 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-124.31. Pooling of assets for investment

The Board may invest the assets of any retirement system or program it administers on a pooled or consolidated basis. The Board shall maintain a separate accounting of the funds of each of the retirement systems and programs.Code 1950, §§ 51-140, 51-141, 51-149, 51-166; 1950, p. 885; 1954, c. 139; 1966, c. 628; 1970, c. 779; 1972, c. 151; 1990, c. 832, § 51.1-115; 1994, cc. 4, 85; 2000, c. 911.
VA Code § 51.1-124.32 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-124.32. Exemption from Public Procurement Act

The selection of services related to the management, purchase, or sale of authorized investments, actuarial services, and disability determination services shall be governed by the standard of care in § 51.1-124.30 and shall not be subject to the provisions of the Virginia Public Procurement Act (§ 2.2-4300 et seq.).1982, c. 580, § 51-111.24:2; 1985, c. 490; 1989, c. 399; 1990, c. 832, § 51.1-116; 1991, c. 391; 1994, cc. 4, 85; 2007, c. 65.
VA Code § 51.1-124.33 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-124.33. Deposit of trust funds not an investment; authorized deposits

The Board may authorize the deposit of trust funds in interest-bearing time deposits and certificates of deposit of national banks located within the Commonwealth, of banks organized pursuant to Chapter 8 (§ 6.2-800 et seq.) of Title 6.2, of savings institutions which are under state supervision, and of federal associations located in this Commonwealth and organized under the laws of the United States and under federal supervision and federally insured. Such deposits shall not be considered the investment of trust funds for the purposes of this chapter. Deposit of the funds in demand and time deposits and in certificates of deposit of national banks located within this Commonwealth and of banks organized pursuant to the Virginia Banking Act is hereby authorized, provided that the deposits are secured as provided by law and that no deposit is made for any one period in excess of one year. Deposit of trust funds in savings accounts and certificates of savings institutions which are under state supervision and of federal associations located in this Commonwealth and organized under the laws of the United States and under federal supervision is hereby authorized. Such deposits shall not exceed the amount insured by the Federal Deposit Insurance Corporation or other federal insurance agency, unless deposits in excess of the amount insured are fully collateralized by eligible collateral as defined in § 2.2-4401. No such deposit shall be made for any one period in excess of one year.1980, c. 596, § 51-111.24:4; 1990, cc. 3, 832, § 51.1-122; 1994, cc. 4, 85.
VA Code § 51.1-124.34 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-124.34. Retention of investments that become ineligible

An investment that conformed with the provisions of this chapter at the time the investment was made may be retained even though the investment ceases to be eligible for purchase under the provisions of this chapter, unless the standard of care in § 51.1-124.30 requires the sale or other disposition of the investment.1980, c. 596, § 51-111.24:1; 1988, c. 526; 1989, c. 28; 1990, c. 832, § 51.1-123; 1994, cc. 4, 85.
VA Code § 51.1-124.35 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-124.35. Investment provisions exclusive

Investment of trust funds by the Board shall be governed exclusively by this article.1980, c. 596, § 51-111.24:8; 1990, c. 832, § 51.1-124; 1994, cc. 4, 85.
VA Code § 51.1-124.36 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-124.36. Investment of assets of the Commonwealth Health Research Fund

A. In addition to such other powers as shall be vested in the Board, the Board shall have the full power to invest, reinvest, and manage the assets of the Commonwealth Health Research Fund. The Board shall maintain a separate accounting for the assets of the Commonwealth Health Research Fund.B. The Board shall invest the assets of the Commonwealth Health Research Fund with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. The Board shall also diversify such investments so as to minimize the risk of large losses unless under the circumstances it is clearly prudent not to do so.C. No officer, director, or member of the Board or of any advisory committee of the Retirement System or any of its tax exempt subsidiary corporations whose actions are within the standard of care in subsection B above shall be held personally liable for losses suffered by the Retirement System on investments made under the authority of this section.D. The provisions of §§ 51.1-124.32, 51.1-124.33, 51.1-124.34, and 51.1-124.35 shall apply to the Board's activities with respect to funds in the Commonwealth Health Research Fund.E. The Board may assess the Commonwealth Health Research Board a reasonable administrative fee for its services.1997, cc. 803, 888, 891; 2007, cc. 700, 711.
VA Code § 51.1-124.37 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-124.37. Investment of assets of the Commonwealth's Attorneys Training Fund

A. In addition to such other powers as shall be vested in the Board of the Virginia Retirement System (Board), the Board shall have the full power to invest, reinvest, and manage the assets of the Commonwealth's Attorneys Training Fund (Fund). The Board shall maintain a separate accounting for the assets of the Fund.B. The Board shall invest the assets of the Fund with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. The Board shall also diversify such investments so as to minimize the risk of large losses unless under the circumstances it is clearly prudent not to do so.C. No officer, director, or member of the Board or of any advisory committee of the Virginia Retirement System or any of its tax exempt subsidiary corporations whose actions are within the standard of care set forth in subsection B shall be held personally liable for losses suffered by the Retirement System on investments made under the authority of this section.D. The provisions of §§ 51.1-124.32, 51.1-124.33, 51.1-124.34, and 51.1-124.35 shall apply to the Board's activities with respect to moneys in the Fund.E. The Board may assess the Commonwealth's Attorneys' Services Council a reasonable administrative fee for its services.2015, cc. 212, 226.
VA Code § 51.1-124.39 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-124.39. Investment of assets of the Line of Duty Death and Health Benefits Trust Fund

A. In addition to such other powers as shall be vested in the Board, the Board shall have the full power to invest, reinvest, and manage the assets of the Line of Duty Death and Health Benefits Trust Fund (the Fund) established pursuant to § 9.1-400.1. The Board shall maintain a separate accounting for the assets of the Fund.B. The Board shall invest the assets of the Fund with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. The Board shall also diversify such investments so as to minimize the risk of large losses unless under the circumstances it is clearly prudent not to do so.C. No officer, director, or member of the Board or of any advisory committee of the Retirement System or any of its tax-exempt subsidiary corporations whose actions are within the standard of care in subsection B shall be held personally liable for losses suffered by the Retirement System on investments made under the authority of this section.D. The provisions of §§ 51.1-124.32 through 51.1-124.35 shall apply to the Board's activities with respect to moneys in the Fund.E. The Board may assess the Fund a reasonable administrative fee for its services.2016, c. 677.
VA Code § 51.1-124.40 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-124.40. Investment of assets of the Opioid Abatement Fund

A. In addition to such other powers as shall be vested in the Board, the Board shall have the full power to invest, reinvest, and manage any assets of the Opioid Abatement Fund (the Fund) designated by the Opioid Abatement Authority for investment, reinvestment, or management by the Board. The Board shall maintain a separate accounting for the assets of the Fund. The Opioid Abatement Authority shall request a distribution of funds from the Board no more frequently than annually, and the Opioid Abatement Authority shall designate funds for investment by the Board no more frequently than annually.B. The Board shall invest the assets of the Fund with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. The Board shall also diversify such investments so as to minimize the risk of large losses unless under the circumstances it is clearly prudent not to do so.C. No officer, director, or member of the Board or of any advisory committee of the Retirement System or any of its tax exempt subsidiary corporations whose actions are within the standard of care in subsection B shall be held personally liable for losses suffered by the Retirement System on investments made under the authority of this section.D. The provisions of §§ 51.1-124.32 through 51.1-124.35 shall apply to the Board's activities with respect to funds in the Fund.E. The Board may assess the Opioid Abatement Authority a reasonable administrative fee for its services.2021, Sp. Sess. I, cc. 306, 307.
VA Code § 51.1-125 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-125. Persons composing membership; persons holding more than one position

A. All persons who become employees after March 1, 1952, shall be members of the retirement system, except for the following persons:1. Any person who elects not to participate as provided in this chapter, or who elected not to participate in the abolished system.2. Any person who becomes an employee and who elects to remain a member of a local pension system where such election is allowed by state law.3. Any member of a local system who through promotion achieves a position bringing him within the definition of a teacher if he elects within sixty days, with the concurrence of his employer, to remain a member of the local system.B. No person shall hold more than one membership in the retirement system at any one time with respect to any of the benefits provided under this title. Any person employed in more than one position resulting in membership shall elect one position on which his membership shall be based by written notification thereof to the Board.1952, c. 157, § 51-111.27; 1954, c. 241; 1960, c. 400; 1973, c. 523; 1978, c. 841; 1982, c. 467; 1984, c. 430; 1985, c. 490; 1987, c. 575; 1990, c. 832.
VA Code § 51.1-126.1 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-126.1. Certain employees of teaching hospitals

A. Any teaching hospital affiliated with an institution of higher education, other than the Virginia Commonwealth University Health System Authority or the University of Virginia Medical Center, may establish a retirement plan covering in whole or in part its employees who are health care providers, as determined by the Department of Human Resource Management pursuant to § 2.2-2905, and is authorized to make contributions for the benefit of its employees who elect to participate in such plan or arrangement rather than in the retirement system established by this chapter. Any such alternative retirement plan shall not become effective until July 1, 1991, or any time thereafter, as determined by such teaching hospital. Any health care provider employed by such teaching hospital on or after July 1, 1991, may make an irrevocable election to participate in either the retirement plan established by this chapter or the plan provided by the teaching hospital, in accordance with guidelines established by the Virginia Retirement System. The election herein provided shall, as to any health care provider employed after the alternative retirement plan implementation date, be exercised not later than thirty-one days from the time of entry upon the performance of his duties.B. No health care provider employed by a teaching hospital who is an active member of a plan established under this section shall also be an active member of the retirement system or a beneficiary other than a contingent annuitant.C. The contribution by the Commonwealth to any other retirement plan established on behalf of health care providers as provided in subsection A shall be the contribution by the Commonwealth which would be required if the health care provider were a member of the retirement system or eight percent of creditable compensation, whichever is less.D. If the institution of higher education with which the teaching hospital is affiliated has adopted a retirement plan under § 51.1-126 for its employees who are engaged in the performance of teaching, administrative, or research duties, the plan established under this section shall offer the same investment opportunities as are available to the participants of the plan established under § 51.1-126.E. The Virginia Retirement System shall develop policies and procedures for the administration of the retirement plan established under this section.1991, c. 645; 1993, c. 895; 1996, cc. 905, 933, 995, 1046; 2000, cc. 66, 657, 720.
VA Code § 51.1-126.4 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-126.4. Employees of the Virginia Port Authority

A. The Virginia Port Authority, hereinafter referred to as the Authority, may establish one or more retirement plans covering in whole or in part its employees. The Authority is authorized to make contributions for the benefit of its employees who elect to participate in such plan or arrangement rather than in any other retirement system established by this chapter. Any such alternative retirement plan shall become effective at such time as determined by the Authority. The Authority shall notify the Virginia Retirement System of the establishment of such plan no later than ninety days prior to the effective date. Any present employee of the Authority may make an irrevocable election to participate in the retirement plan established by this chapter or any plan provided by the Authority. Such election shall be made no later than 180 days after the effective date of the plan provided for in this section on forms supplied by the Virginia Retirement System. Any employee hired on or after the effective date of the plan provided for in this section shall become a participant in that plan, subject to the eligibility criteria of that plan.B. No employee of the Authority who is an active member of a plan established under this section shall also be an active member of the retirement system established by this chapter or a beneficiary of such other plan other than as a contingent annuitant.C. The Authority shall develop policies and procedures for the administration of any retirement plan it establishes under this section. A copy of such policies and procedures shall be filed with the Board of Trustees of the Virginia Retirement System.D. Pursuant to § 62.1-129.1, employees of the Authority shall be eligible to continue their participation in the Virginia Retirement System or may participate in an alternative retirement plan offered pursuant to this section.1997, c. 232; 2015, c. 660.
VA Code § 51.1-126.7 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-126.7. Employees of the Virginia Outdoors Foundation

A. The Virginia Outdoors Foundation, hereinafter referred to as the Foundation, may establish a retirement plan covering in whole or in part its employees. The Foundation is authorized to make contributions for the benefit of its employees who elect to participate in such plan or arrangement rather than in any other retirement system established by this chapter. Any such alternative retirement plan shall become effective at such times as determined by the Foundation. The Foundation shall notify the Virginia Retirement System of the establishment of such plan no later than ninety days prior to the effective date. Any present employee of the Foundation may make an irrevocable election to participate in the retirement plan established by this chapter or any plan provided by the Foundation. Such election shall be made no later than 180 days after the effective date of the plan provided for in this section on forms supplied by the Virginia Retirement System. Any employee hired on or after the effective date of the plan provided for in this section shall become a participant in that plan, subject to the eligibility criteria of that plan.B. No employee of the Foundation who is an active member of a plan established under this section shall also be an active member of the retirement system established by this chapter or a beneficiary of such other plan other than as a contingent annuitant.C. Upon an election by an employee of the Foundation to participate in the retirement plan established by the Foundation, the employee may also elect to transfer his accumulated contribution account, as reduced by the amount of any retirement allowance previously received by him under any of the provisions of this chapter or the abolished system, directly to the retirement plan established by the Foundation as a credit to his account in such plan. This election shall only be permitted if the plan established by the Foundation is a qualified plan under Section 401 (a) of the Internal Revenue Code. If a transfer is elected, no portion of the transferred amount shall be available to the member until benefits under the retirement plan established by the Foundation are otherwise available for distribution. The transfer of the accumulated contributions to such retirement plan shall be treated as a withdrawal of the member's accumulated contributions for purposes of § 51.1-128.D. The Foundation shall continue to pay the required contributions to the Virginia Retirement System for employees who do not elect to participate in the retirement plan established by the Foundation pursuant to this section.2001, c. 698.
VA Code § 51.1-126.8 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-126.8. Maximum contributions to optional plans; coordination of limits

A. Notwithstanding any other provision of law, the annual additions to the optional retirement plans described in Article 4 (§ 51.1-125 et seq.) of Chapter 1 of this title shall be reduced, if necessary, to the extent required by § 415 (c) of the Internal Revenue Code, as adjusted by the Secretary of the Treasury pursuant to § 415 (d) of the Internal Revenue Code. If an employee participating in an optional retirement plan is also a participant in another defined contribution plan qualified under §§ 401 (a) or 403 (b) of the Internal Revenue Code and sponsored or maintained by an employer participating in such optional retirement plan, the employer shall apply the combined limit test required by § 415 (c) of the Internal Revenue Code. Whenever a reduction in annual additions is required to comply with the limitations of § 415 (c) of the Internal Revenue Code, the annual additions under such employer's other plan or plans will be reduced before contributions under the optional retirement plan.B. Any vendor for an optional retirement plan that is a defined contribution plan established by Article 4 of Chapter 1 of Title 51.1 shall (i) request and maintain the records needed, (ii) perform the testing services required to assure compliance with the limitation described in § 415 (c) of the Internal Revenue Code, including testing required where the employer maintains or sponsors another defined contribution plan that must be tested together with the optional retirement plan, and (iii) advise the employer of any contribution that exceeds the applicable limitation. If there is no vendor for these services, the employer shall (a) request and maintain the records needed, (b) perform the testing services required to assure compliance with the limitation described in § 415 (c) of the Internal Revenue Code, including testing required where the employer maintains or sponsors another defined contribution plan that must be tested together with the optional retirement plan, and (c) reduce any contribution that exceeds the applicable limitation.2002, c. 435.
VA Code § 51.1-127 (2021)
2021 Code of Virginia|Title 51.1 - Pensions, Benefits, and Retirement|Chapter 1 - Virginia Retirement System|§ 51.1-127. Federal Employees' Retirement System

The Virginia Cooperative Extension Service is hereby authorized to make contributions into the Federal Employees' Retirement System for the benefit of its employees who hold federal governmental appointments and who elect to participate in the system. No employee who is an active member of the Federal Employees' Retirement System shall also be an active member or beneficiary other than a contingent annuitant of the retirement system or any retirement plan authorized by this chapter or administered by the Board.1952, c. 157, § 51-111.28; 1978, c. 841; 1982, c. 467; 1987, c. 215; 1990, c. 832.