§ 51.1-617. Definitions

As used in this chapter, unless the context requires a different meaning: “Board” means the Board of Trustees of the Virginia Retirement System. “Eligible employee” means any turnaround specialist or member of the middle school teacher corps providing services for a participating public school division pursuant to subsections E and F of § 22.1-199.1. “Participating […]

§ 51.1-618. Defined contribution plan for eligible employees of local public school boards; administered by the Board

A. The Board shall establish and administer a defined contribution plan for eligible employees. The Director of the Virginia Retirement System shall be the chief administrative officer of the plan. The Board may contract with private corporations or institutions subject to the standards set forth in § 51.1-124.30 to provide investment products as well as […]