{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/30-80.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/30-80.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/30-80.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/30-80.html"}],"law_id":84225,"edition_id":1,"section_id":84225,"structure_id":12963,"section_number":"30-80","catch_line":"Duties and powers","history":"1994, cc. 3, 732.","full_text":"A\n\nThe areas of review and evaluation to be conducted by the Commission shall include, but are not limited to, the following: (i) structure and governance of the Retirement System; (ii) structure of the investment portfolio; (iii) investment practices, policies, and performance, including the effect of investment performance on employer contributions; (iv) actuarial policy and the actuarial soundness of the Retirement System’s trust funds; and (v) administration and management of the Retirement System.B\n\nFor the purpose of carrying out its duties under this chapter and notwithstanding any contrary provision of law, the Commission shall have the following powers, including but not limited to:1\n\nAccess to the information, records, and facilities of the Retirement System and any corporations or subsidiaries thereof or other entities owned, directly or indirectly, or otherwise created by or on behalf of the System.2\n\nAccess to the public and executive session meetings and records of the board of trustees of the System, as well as those of the System’s investment advisory committee and real estate advisory committee. Access shall include the right to attend such meetings.3\n\nAccess to the System’s employees, consultants, actuaries, investment managers, advisors, attorneys, accountants, or other contractors in the employ or hire of the Virginia Retirement System. Such persons shall cooperate with the Commission and upon its request shall provide specific information or opinions in the form requested.4\n\nThe chairman of the Commission may appoint a permanent subcommittee to provide guidance and direction for oversight activities, subject to the full Commission’s supervision and such guidelines as the Commission itself may provide.C\n\nConfidential or proprietary records of the Virginia Retirement System or its subsidiary corporations provided to the Commission shall be exempted from the Virginia Freedom of Information Act (§ 2.2-3700 et seq.).","order_by":null,"text":{"0":{"id":301889,"text":"The areas of review and evaluation to be conducted by the Commission shall include, but are not limited to, the following: (i) structure and governance of the Retirement System; (ii) structure of the investment portfolio; (iii) investment practices, policies, and performance, including the effect of investment performance on employer contributions; (iv) actuarial policy and the actuarial soundness of the Retirement System’s trust funds; and (v) administration and management of the Retirement System.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":301890,"text":"For the purpose of carrying out its duties under this chapter and notwithstanding any contrary provision of law, the Commission shall have the following powers, including but not limited to:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":301891,"text":"Access to the information, records, and facilities of the Retirement System and any corporations or subsidiaries thereof or other entities owned, directly or indirectly, or otherwise created by or on behalf of the System.","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":301892,"text":"Access to the public and executive session meetings and records of the board of trustees of the System, as well as those of the System’s investment advisory committee and real estate advisory committee. Access shall include the right to attend such meetings.","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":301893,"text":"Access to the System’s employees, consultants, actuaries, investment managers, advisors, attorneys, accountants, or other contractors in the employ or hire of the Virginia Retirement System. Such persons shall cooperate with the Commission and upon its request shall provide specific information or opinions in the form requested.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"B4"},"5":{"id":301894,"text":"The chairman of the Commission may appoint a permanent subcommittee to provide guidance and direction for oversight activities, subject to the full Commission’s supervision and such guidelines as the Commission itself may provide.","type":"section","prefixes":["B","4"],"prefix":"4","entire_prefix":"B4","prefix_anchor":"B4","level":2,"prior_prefix":"B3","next_prefix":"C"},"6":{"id":301895,"text":"Confidential or proprietary records of the Virginia Retirement System or its subsidiary corporations provided to the Commission shall be exempted from the Virginia Freedom of Information Act (§ 2.2-3700 et seq.).","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B4"}},"ancestry":[{"id":12963,"edition_id":1,"name":"Virginia Retirement System Oversight Act","identifier":"10","label":"chapter","depth":2,"order_by":1,"parent_id":12738,"metadata":{},"date_created":"2026-06-26 03:44:04","date_modified":"2026-06-26 03:44:04","permalink":{"id":199313,"object_type":"structure","relational_id":12963,"identifier":"10","token":"30\/10","url":"\/30\/10\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12738,"edition_id":1,"name":"General Assembly","identifier":"30","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":199019,"object_type":"structure","relational_id":12738,"identifier":"30","token":"30","url":"\/30\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":57905,"structure_id":12963,"section_number":"30-78","catch_line":"Title of chapter","url":"\/30-78\/","token":"30\/10\/30-78","metadata":false},{"id":84639,"structure_id":12963,"section_number":"30-79","catch_line":"Purpose","url":"\/30-79\/","token":"30\/10\/30-79","metadata":false},{"id":84225,"structure_id":12963,"section_number":"30-80","catch_line":"Duties and powers","url":"\/30-80\/","token":"30\/10\/30-80","metadata":false},{"id":54054,"structure_id":12963,"section_number":"30-81","catch_line":"Required reports","url":"\/30-81\/","token":"30\/10\/30-81","metadata":false},{"id":54179,"structure_id":12963,"section_number":"30-82","catch_line":"Use of consultants","url":"\/30-82\/","token":"30\/10\/30-82","metadata":false},{"id":70220,"structure_id":12963,"section_number":"30-83","catch_line":"Cooperation of other agencies","url":"\/30-83\/","token":"30\/10\/30-83","metadata":false},{"id":79245,"structure_id":12963,"section_number":"30-84","catch_line":"Funding for Commission's oversight activities","url":"\/30-84\/","token":"30\/10\/30-84","metadata":false}],"previous_section":{"id":84639,"structure_id":12963,"section_number":"30-79","catch_line":"Purpose","url":"\/30-79\/","token":"30\/10\/30-79","metadata":false},"next_section":{"id":54054,"structure_id":12963,"section_number":"30-81","catch_line":"Required reports","url":"\/30-81\/","token":"30\/10\/30-81","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/30-80\/","history_text":"

This law was first created in 1994. The record of its establishment is cataloged in chapters 3<\/a> and 732<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":[{"id":55569,"section_number":"2.2-3700","catch_line":"Short title; policy","order_by":null,"url":"\/2.2-3700\/"}],"permalink":{"id":199323,"object_type":"law","relational_id":84225,"identifier":"30-80","token":"30\/10\/30-80","url":"\/30-80\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/30-80\/","token":"30\/10\/30-80","dublin_core":{"Title":"Duties and powers","Type":"Text","Format":"text\/html","Identifier":"\u00a7 30-80","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The areas of review and evaluation to be conducted by the Commission shall include, but are not limited to, the following: (i) structure and governance of the Retirement System; (ii) structure of the investment portfolio; (iii) investment practices, policies, and performance, including the effect of investment performance on employer contributions; (iv) actuarial policy and the actuarial soundness of the Retirement System’s trust funds; and (v) administration and management of the Retirement System. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> For the purpose of carrying out its duties under this chapter and notwithstanding any contrary provision of law<\/span>, the Commission shall have the following powers, including but not limited to: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Access to the information, records, and facilities of the Retirement System and any corporations or subsidiaries thereof or other entities owned, directly or indirectly, or otherwise created by or on behalf of the System. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Access to the public and executive session meetings and records of the board of trustees of the System, as well as those of the System’s investment advisory committee and real estate advisory committee. Access shall include the right to attend such meetings. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Access to the System’s employees, consultants, actuaries, investment managers, advisors, attorneys, accountants, or other contractors in the employ or hire of the Virginia Retirement System. Such persons shall cooperate with the Commission and upon its request shall provide specific information or opinions<\/span> in the form requested. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The chairman of the Commission may appoint a permanent subcommittee to provide guidance and direction for oversight activities, subject to the full Commission’s supervision and such guidelines as the Commission itself may provide. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Confidential or proprietary records of the Virginia Retirement System or its subsidiary corporations provided to the Commission shall be exempted from the Virginia Freedom of Information Act (§ 2.2-3700<\/a> et seq.). <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDUTIES AND POWERS (\u00a7 30-80)\n\nA. The areas of review and evaluation to be conducted by the Commission shall\ninclude, but are not limited to, the following: (i) structure and governance of\nthe Retirement System; (ii) structure of the investment portfolio; (iii)\ninvestment practices, policies, and performance, including the effect of\ninvestment performance on employer contributions; (iv) actuarial policy and the\nactuarial soundness of the Retirement System’s trust funds; and (v)\nadministration and management of the Retirement System.\n\nB. For the purpose of carrying out its duties under this chapter and\nnotwithstanding any contrary provision of law, the Commission shall have the\nfollowing powers, including but not limited to:\n\n 1. Access to the information, records, and facilities of the Retirement System\n and any corporations or subsidiaries thereof or other entities owned, directly\n or indirectly, or otherwise created by or on behalf of the System.\n\n 2. Access to the public and executive session meetings and records of the\n board of trustees of the System, as well as those of the System’s\n investment advisory committee and real estate advisory committee. Access shall\n include the right to attend such meetings.\n\n 3. Access to the System’s employees, consultants, actuaries, investment\n managers, advisors, attorneys, accountants, or other contractors in the employ\n or hire of the Virginia Retirement System. Such persons shall cooperate with\n the Commission and upon its request shall provide specific information or\n opinions in the form requested.\n\n 4. The chairman of the Commission may appoint a permanent subcommittee to\n provide guidance and direction for oversight activities, subject to the full\n Commission’s supervision and such guidelines as the Commission itself\n may provide.\n\nC. Confidential or proprietary records of the Virginia Retirement System or its\nsubsidiary corporations provided to the Commission shall be exempted from the\nVirginia Freedom of Information Act (§ 2.2-3700 et seq.).\n\nHISTORY: 1994, cc. 3, 732.","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}}