                                 CODE OF VIRGINIA

CHIEF EXECUTIVE OFFICER OF THE PLAN (§ 23.1-703)

A. The board shall employ a chief executive officer to direct, manage, and
administer the Plan. The chief executive officer may employ such staff as are
necessary to accomplish the Plan&#8217;s stated objectives.

B. The chief executive officer shall demonstrate (i) extensive experience in
some or all of the following areas: management, finance, law, regulatory
affairs, and investments and (ii) such other qualifications as the board may
set.

C. The chief executive officer shall, in addition to such other duties as the
board may establish, (i) oversee the development, structure, evaluation, and
implementation of the Plan&#8217;s strategic goals and objectives; (ii)
facilitate communication among and between the board, advisory committees,
employees, account owners, beneficiaries, and outside entities interested in the
Plan; (iii) enhance the board&#8217;s ability to make effective and prompt
decisions in all matters relating to the administration of the Plan; (iv) with
the assistance of the Investment Advisory Committee appointed by the board and
investment consultants, direct, manage, and administer the Plan&#8217;s assets
and programs; and (v) report to the board periodically and as requested by the
board.

HISTORY: 1994, c. 661, § 23-38.79; 2009, cc. 827, 845; 2016, c. 588.