                                 CODE OF VIRGINIA

REQUIRED REPORTS (§ 30-332)

A. The Commonwealth Savers Plan shall submit to the General Assembly, through
the Commission, annual reports on the investment programs of the Commonwealth
Savers Plan. The report shall be presented in a format approved by the
Commission and shall include information concerning (i) planned or actual
material changes in asset allocation, (ii) investment performance of all asset
classes and subclasses, and (iii) investment policies and programs.

B. The Commonwealth Savers Plan shall submit an annual report on the actuarial
soundness of the Plan&#8217;s prepaid programs, which shall include (i) contract
pricing policies and objectives, (ii) current and projected assets and
actuarially estimated value of tuition obligations, and (iii) actuarial
assumptions.

C. The Commonwealth Savers Plan shall furnish such reports or information as may
be requested by the Commission or standing committees of the General Assembly
having jurisdiction over the subject matter that is the basis of such
committees&#8217; inquiry.

D. The Commission shall publish the following reports concerning the
Commonwealth Savers Plan: (i) a biennial status report that shall include, at a
minimum and where appropriate, findings and recommendations and (ii) with the
assistance of an actuary, a review of the Commonwealth Savers Plan&#8217;s
annual actuarial valuation reports once every four years.

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