Nothing in this chapter or any payroll deposit retirement savings agreement entered into pursuant to this chapter shall be construed as a promise or guarantee that the expenses associated with a participating employee's or participating individual's retirement will be covered in full by contributions to or earnings on any account, nor that the contributions to or earnings on any account will be sufficient to fund any particular level of benefit upon retirement. In no event shall the Commonwealth, the Program, the Board, any Board member, or any participating employer be liable for any losses incurred by Program Trust investments or otherwise by any employee or other person as a result of participating in the Program.
2021, Sp. Sess. I, c. 556.
Structure Code of Virginia
Title 2.2 - Administration of Government
Chapter 27.1 - State-Facilitated Ira Savings Program
§ 2.2-2745. Program authorized
§ 2.2-2746. Program Advisory Committee; membership; qualifications; duties
§ 2.2-2747. Powers and duties of the Board
§ 2.2-2748. Cooperation of other agencies
§ 2.2-2749. Board actions not a debt of the Commonwealth
§ 2.2-2750. Standard of care; investment and administration of the Program
§ 2.2-2751. Program enrollment; participating employer liability and status under the Program
§ 2.2-2752. Program Trust Fund
§ 2.2-2753. Audit and annual reports
§ 2.2-2754. Virginia Freedom of Information Act
§ 2.2-2755. Coverage limitations