                                 CODE OF VIRGINIA

DUTIES AND POWERS (§ 30-331)

A. 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 Commonwealth Savers Plan; (ii) structure of the investment portfolio; (iii)
investment practices, policies, and performance; (iv) actuarial policy; and (v)
administration and management of the Commonwealth Savers Plan.

B. For purposes of carrying out its duties under this chapter, the Commission
shall have the following powers, including but not limited to:

   1. Access to the information, records, and facilities of the Commonwealth
   Savers Plan and any corporations or subsidiaries thereof or other entities
   owned, directly or indirectly, or otherwise created by or on behalf of the
   Plan.

   2. Access to the public and executive session meetings and records of the
   Board of the Commonwealth Savers Plan, as well as those of any advisory
   committees. Access shall include the right to attend such meetings.

   3. Access to the Commonwealth Savers Plan&#8217;s employees, consultants,
   actuaries, investment managers, advisors, attorneys, accountants, or other
   contractors in the employ or hire of the Commonwealth Savers Plan. Such
   persons shall cooperate with the Commission and upon its request shall provide
   specific information or opinions in the form requested.

C. The chairman of the Commission may appoint a permanent subcommittee to
provide guidance and direction for oversight activities, subject to the full
Commission&#8217;s supervision and such guidelines as the Commission itself may
provide.

D. Confidential or proprietary records of the Commonwealth Savers Plan or its
subsidiary corporations provided to the Commission shall be exempt from the
Virginia Freedom of Information Act (&#xA7; 2.2-3700 et seq.).

HISTORY: 2012, cc. 591, 659; 2024, c. 217.