Code of Virginia
Chapter 15 - Local Government Personnel, Qualification for Office, Bonds, Dual Office Holding and Certain Local Government Officers
§ 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 § 15.2-1547, 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.
2007, c. 710.

Structure Code of Virginia

Code of Virginia

Title 15.2 - Counties, Cities and Towns

Chapter 15 - Local Government Personnel, Qualification for Office, Bonds, Dual Office Holding and Certain Local Government Officers

§ 15.2-1500. Organization of local government

§ 15.2-1500.1. Employment discrimination prohibited; sexual orientation or gender identity

§ 15.2-1501. Designation of officers to perform certain duties

§ 15.2-1502. Employment of certain deputies and assistants; delegation of powers and duties

§ 15.2-1503. Tenure of officers and employees; suspension or removal

§ 15.2-1503.1. Background checks required for certain employees and licensees

§ 15.2-1504. Use of tobacco products by government employees

§ 15.2-1505. Employment based on residency prohibited for certain employees

§ 15.2-1505.1. Applicant preemployment information

§ 15.2-1505.2. Personnel policies related to the use of public property

§ 15.2-1505.3. Localities prohibited from inquiring about arrests, charges, or convictions on employment applications; exceptions

§ 15.2-1506. Establishment of grievance procedure, personnel system and uniform pay plan for employees

§ 15.2-1507. Provision of grievance procedure; training programs

§ 15.2-1507.1. Appointment of standing panel in certain counties

§ 15.2-1508. Bonuses for employees of local governments

§ 15.2-1508.1. Traveling expenses on business of town, city or county

§ 15.2-1508.2. Same; where Commonwealth bears portion of expenses

§ 15.2-1508.3. Governing bodies of certain cities and counties may supplement salaries and reimburse traveling expenses of employees of state and local health departments

§ 15.2-1508.4. Certain counties and cities may supplement salaries and reimburse traveling expenses of employees of state mental health clinics

§ 15.2-1509. Preferences for veterans and people with disabilities in local government employment

§ 15.2-1510. Retirement systems

§ 15.2-1510.1. Public announcement of severance packages for certain officials

§ 15.2-1511. Allowances to injured officials and employees and their dependents

§ 15.2-1511.01. Allowances to injured deputy sheriffs

§ 15.2-1511.1. Written benefit information to certain employees

§ 15.2-1512. Oath and bond

§ 15.2-1512.1. Disposition of property received by subdivisions as result of conversion of mutual insurance company to stock corporation

§ 15.2-1512.2. Political activities of employees of localities, firefighters, emergency medical services personnel, and law-enforcement officers and certain other officers and employees

§ 15.2-1512.3. Telecommuting by local government employees

§ 15.2-1512.4. Rights of local employees to contact elected officials

§ 15.2-1512.5. Authority of local government employees to issue summonses for misdemeanor violations of certain local ordinances

§ 15.2-1513. Joint local government employees permitted

§ 15.2-1514. Exercise of powers and duties

§ 15.2-1515. Compensation, benefits and liability insurance of such persons

§ 15.2-1516. Exceptions

§ 15.2-1517. Insurance for employees and retired employees of localities and other local governmental entities; participation by certain volunteers

§ 15.2-1517.1. Formation of not-for-profit benefits consortium

§ 15.2-1518. Liability insurance for officers, employees and volunteers of local government and members of its boards and commissions and constitutional officers

§ 15.2-1519. Liability insurance for employees of local departments and boards of welfare and social services; legal representation

§ 15.2-1520. Employment of counsel to defend localities and political subdivisions, governing bodies, officers or employees in certain proceedings; costs and expenses of such proceedings

§ 15.2-1521. Providing legal fees and expenses for officer or employee of county, city or town in certain proceedings

§ 15.2-1522. When and how officers qualify

§ 15.2-1523. Record of qualification

§ 15.2-1524. Failure to qualify vacates office

§ 15.2-1525. Where officers shall reside

§ 15.2-1526. Removal vacates office

§ 15.2-1527. Bonds of officers

§ 15.2-1528. Penalties of bonds of sheriffs, clerks of the circuit court and commissioners of the revenue

§ 15.2-1529. Amount of bond of treasurer or director of finance of counties

§ 15.2-1530. Bonds required of treasurers or directors of finance of cities

§ 15.2-1531. When certain city and county treasurers not required to give additional bond

§ 15.2-1532. Payment of premiums on bonds for more than one year in advance

§ 15.2-1533. Bond plan to be forwarded to clerk and Comptroller

§ 15.2-1534. Certain officers not to hold more than one office

§ 15.2-1535. Members of governing body not to be elected or appointed by governing body to certain offices

§ 15.2-1536. Required and discretionary officers

§ 15.2-1537. Financial officer

§ 15.2-1537.1. Disposition of state funds locally collected

§ 15.2-1538. Clerk for the governing body

§ 15.2-1539. General duties of clerk

§ 15.2-1540. Chief administrative officer

§ 15.2-1541. Administrative head of government

§ 15.2-1541.1. Authority of county administrator to maintain centralized system of accounting

§ 15.2-1542. Creation of office of county, city or town attorney authorized; appointment, salary and duties

§ 15.2-1543. Employment of purchasing agent; duties

§ 15.2-1544. Counties, cities, towns, school divisions, and certain political subdivisions may establish local trusts or equivalent arrangements to fund postemployment benefits other than pensions

§ 15.2-1545. Postemployment benefits other than pensions defined

§ 15.2-1546. Assets of trusts or equivalent arrangements for postemployment benefits other than pensions

§ 15.2-1547. Creation of local finance boards to manage the assets of postemployment benefits trust or equivalent arrangement; composition of such boards; alternatives to such boards; liability; and removal from office

§ 15.2-1548. Finance boards or alternatives thereto to manage the assets of trusts or equivalent arrangements to fund postemployment benefits other than pensions and provide annual reports; exemption from Public Procurement Act

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