                                 CODE OF VIRGINIA

DUTY AND LIABILITY OF THE COMMONWEALTH (§ 2.2-2756)

A. The Commonwealth shall have no duty or liability to any party for the payment
of any retirement savings benefits accrued by any individual under the Program.
Any financial liability for the payment of retirement savings benefits in excess
of funds available under the Program shall be borne solely by the entities with
whom the Board contracts to provide insurance to protect the value of the
Program, if applicable.

B. No Commonwealth board, commission, political subdivision, or agency, or any
officer, employee, or member thereof, is liable for any loss or deficiency
resulting from particular investments selected under this chapter, except for
any liability that arises out of a breach of fiduciary duty.

HISTORY: 2021, Sp. Sess. I, c. 556.