                                 CODE OF VIRGINIA

FUNDING OF PROGRAM; HYBRID RETIREMENT PROGRAM DISABILITY INSURANCE TRUST FUND
ESTABLISHED (§ 51.1-1183)

A. The costs of providing short-term disability benefits shall be paid by the
respective employers of participating employees. Employers that are state
agencies shall pay such costs from funds as shall be appropriated by law to
state agencies.

B. Employers of participating employees shall pay to the Board contribution
amounts, to be determined by the Board, to provide the Board with such funds as
shall be required from time to time to (i) obtain and maintain long-term
disability insurance policies under this chapter and (ii) administer the
Program, including providing case management and cost containment programs.
Employers that are state agencies shall make such contributions from funds as
shall be appropriated by law to state agencies. Contributions shall be deposited
in the Hybrid Retirement Program Disability Insurance Trust Fund.

C. There is hereby established the Hybrid Retirement Program Disability
Insurance Trust Fund. The costs incurred by the Board in providing policies of
long-term disability insurance and administering the Program and in
administering the long-term care insurance program established under &#xA7;
51.1-1178, including the provision of case management and cost containment
programs, shall be withdrawn from time to time by the Board from the Hybrid
Retirement Program Disability Insurance Trust Fund. The funds of the Hybrid
Retirement Program Disability Insurance Trust Fund shall be deemed separate and
independent trust funds, shall be segregated from all other funds of the
Commonwealth and its political subdivisions, and shall be invested and
administered solely in the interests of the participating employees and
beneficiaries thereof. Neither the General Assembly nor any public officer,
employee, or agency shall use or authorize the use of such trust funds for any
purpose other than as provided in law for benefits, refunds, and administrative
expenses, including but not limited to legislative oversight of the Hybrid
Retirement Program Disability Insurance Trust Fund.

HISTORY: 2012, cc. 701, 823.