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2006 SESSION

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HB 417 Birth-Related Neurological Injury Program; employee benefits in Retirement System.

Introduced by: Robert Tata | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Birth-Related Neurological Injury Program; Virginia Retirement System.  Eliminates requirements that the investment advisors retained by the board of directors of the Birth-Related Neurological Injury Program be from a list provided by the chief investment officer of the Virginia Retirement System and that the board consult with the chief investment officer semiannually. Any investment advisor retained by the board will be required to either be a federal covered investment advisor or registered with the State Corporation Commission under the Securities Act.

SUMMARY AS INTRODUCED:

Birth-Related Neurological Injury Program; Virginia Retirement System; employee benefits.  Eliminates requirements that the investment advisors retained by the board of directors of the Birth-Related Neurological Injury Program be from a list provided by the chief investment officer of the Virginia Retirement System and that the board consult with the chief investment officer semiannually. Any investment advisor retained by the board will be required to either be a federal covered investment advisor or registered with the State Corporation Commission under the Securities Act. The measure also provides that employee of the Program shall be treated as state employees for purposes of participation in the Virginia Retirement System and shall be eligible to participate in programs or plans for health insurance coverage for state employees.