                                 CODE OF VIRGINIA

PURPOSE (§ 30-79)

A. Section 11 of Article X of the Constitution of Virginia (1971) requires that
the General Assembly maintain a state employees retirement system to be
administered in the best interest of the beneficiaries thereof. In order to
fulfill this duty, continuing legislative oversight of the Virginia Retirement
System (&#8220;Retirement System&#8221; or &#8220;System&#8221;) is essential.

B. The General Assembly hereby designates the Joint Legislative Audit and Review
Commission (&#8220;Commission&#8221;) to oversee and evaluate the Virginia
Retirement System on a continuing basis and to make such special studies and
reports as may be requested by the General Assembly, the House Committee on
Appropriations, or the Senate Committee on Finance and Appropriations.

HISTORY: 1994, cc. 3, 732.