{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-2755.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-2755.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-2755.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-2755.html"}],"law_id":59756,"edition_id":1,"section_id":59756,"structure_id":14361,"section_number":"2.2-2755","catch_line":"Coverage limitations","history":"2021, Sp. Sess. I, c. 556.","full_text":"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&#8217;s or participating individual&#8217;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.","order_by":null,"text":{"0":{"id":218833,"text":"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&#8217;s or participating individual&#8217;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.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14361,"edition_id":1,"name":"State-Facilitated IRA Savings Program","identifier":"27.1","label":"chapter","depth":4,"order_by":1,"parent_id":12785,"metadata":{},"date_created":"2026-06-26 03:47:53","date_modified":"2026-06-26 03:47:53","permalink":{"id":175653,"object_type":"structure","relational_id":14361,"identifier":"27.1","token":"2.2\/I\/D\/27.1","url":"\/2.2\/I\/D\/27.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12785,"edition_id":1,"name":"State Authorities, Boards, Commissions, Councils, Foundations and Other Collegial Bodies","identifier":"D","label":"part","depth":3,"order_by":1,"parent_id":12784,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":173913,"object_type":"structure","relational_id":12785,"identifier":"D","token":"2.2\/I\/D","url":"\/2.2\/I\/D\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12784,"edition_id":1,"name":"Organization of State Government","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12749,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":171455,"object_type":"structure","relational_id":12784,"identifier":"I","token":"2.2\/I","url":"\/2.2\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12749,"edition_id":1,"name":"Administration of Government","identifier":"2.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":171453,"object_type":"structure","relational_id":12749,"identifier":"2.2","token":"2.2","url":"\/2.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":60704,"structure_id":14361,"section_number":"2.2-2744","catch_line":"Definitions","url":"\/2.2-2744\/","token":"2.2\/I\/D\/27.1\/2.2-2744","metadata":false},{"id":84140,"structure_id":14361,"section_number":"2.2-2745","catch_line":"Program authorized","url":"\/2.2-2745\/","token":"2.2\/I\/D\/27.1\/2.2-2745","metadata":false},{"id":83821,"structure_id":14361,"section_number":"2.2-2746","catch_line":"Program Advisory Committee; membership; qualifications; duties","url":"\/2.2-2746\/","token":"2.2\/I\/D\/27.1\/2.2-2746","metadata":false},{"id":81686,"structure_id":14361,"section_number":"2.2-2747","catch_line":"Powers and duties of the Board","url":"\/2.2-2747\/","token":"2.2\/I\/D\/27.1\/2.2-2747","metadata":false},{"id":65822,"structure_id":14361,"section_number":"2.2-2748","catch_line":"Cooperation of other agencies","url":"\/2.2-2748\/","token":"2.2\/I\/D\/27.1\/2.2-2748","metadata":false},{"id":62137,"structure_id":14361,"section_number":"2.2-2749","catch_line":"Board actions not a debt of the Commonwealth","url":"\/2.2-2749\/","token":"2.2\/I\/D\/27.1\/2.2-2749","metadata":false},{"id":86243,"structure_id":14361,"section_number":"2.2-2750","catch_line":"Standard of care; investment and administration of the Program","url":"\/2.2-2750\/","token":"2.2\/I\/D\/27.1\/2.2-2750","metadata":false},{"id":84380,"structure_id":14361,"section_number":"2.2-2751","catch_line":"Program enrollment; participating employer liability and status under the Program","url":"\/2.2-2751\/","token":"2.2\/I\/D\/27.1\/2.2-2751","metadata":false},{"id":62711,"structure_id":14361,"section_number":"2.2-2752","catch_line":"Program Trust Fund","url":"\/2.2-2752\/","token":"2.2\/I\/D\/27.1\/2.2-2752","metadata":false},{"id":72112,"structure_id":14361,"section_number":"2.2-2753","catch_line":"Audit and annual reports","url":"\/2.2-2753\/","token":"2.2\/I\/D\/27.1\/2.2-2753","metadata":false},{"id":82856,"structure_id":14361,"section_number":"2.2-2754","catch_line":"Virginia Freedom of Information Act","url":"\/2.2-2754\/","token":"2.2\/I\/D\/27.1\/2.2-2754","metadata":false},{"id":59756,"structure_id":14361,"section_number":"2.2-2755","catch_line":"Coverage limitations","url":"\/2.2-2755\/","token":"2.2\/I\/D\/27.1\/2.2-2755","metadata":false},{"id":55682,"structure_id":14361,"section_number":"2.2-2756","catch_line":"Duty and liability of the Commonwealth","url":"\/2.2-2756\/","token":"2.2\/I\/D\/27.1\/2.2-2756","metadata":false},{"id":84162,"structure_id":14361,"section_number":"2.2-2757","catch_line":"Liberal construction of chapter","url":"\/2.2-2757\/","token":"2.2\/I\/D\/27.1\/2.2-2757","metadata":false}],"previous_section":{"id":82856,"structure_id":14361,"section_number":"2.2-2754","catch_line":"Virginia Freedom of Information Act","url":"\/2.2-2754\/","token":"2.2\/I\/D\/27.1\/2.2-2754","metadata":false},"next_section":{"id":55682,"structure_id":14361,"section_number":"2.2-2756","catch_line":"Duty and liability of the Commonwealth","url":"\/2.2-2756\/","token":"2.2\/I\/D\/27.1\/2.2-2756","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-2755\/","history_text":false,"references":false,"refers_to":false,"permalink":{"id":175699,"object_type":"law","relational_id":59756,"identifier":"2.2-2755","token":"2.2\/I\/D\/27.1\/2.2-2755","url":"\/2.2-2755\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-2755\/","token":"2.2\/I\/D\/27.1\/2.2-2755","dublin_core":{"Title":"Coverage limitations","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-2755","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Nothing in this chapter or any <span class=\"dictionary\">payroll deposit retirement savings agreement<\/span> entered into pursuant to this chapter shall be construed as a promise or guarantee that the expenses associated with a <span class=\"dictionary\">participating employee<\/span>&#8217;s or <span class=\"dictionary\">participating individual<\/span>&#8217;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 <span class=\"dictionary\">Board<\/span>, any <span class=\"dictionary\">Board<\/span> member, or any <span class=\"dictionary\">participating employer<\/span> be liable for any losses incurred by <span class=\"dictionary\">Program Trust<\/span> investments or otherwise by any employee or other person as a result of participating in the Program.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nCOVERAGE LIMITATIONS (\u00a7 2.2-2755)\n\nNothing in this chapter or any payroll deposit retirement savings agreement\nentered into pursuant to this chapter shall be construed as a promise or\nguarantee that the expenses associated with a participating employee&#8217;s or\nparticipating individual&#8217;s retirement will be covered in full by\ncontributions to or earnings on any account, nor that the contributions to or\nearnings on any account will be sufficient to fund any particular level of\nbenefit upon retirement. In no event shall the Commonwealth, the Program, the\nBoard, any Board member, or any participating employer be liable for any losses\nincurred by Program Trust investments or otherwise by any employee or other\nperson as a result of participating in the Program.\n\nHISTORY: 2021, Sp. Sess. I, c. 556.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}