                                 CODE OF VIRGINIA

VIRGINIA RETIREMENT SYSTEM ESTABLISHED (§ 51.1-124.1)

Article X, § 11 of the Constitution of Virginia requires the General Assembly
to maintain a retirement system for state employees and employees of
participating political subdivisions and school divisions, subject to
restrictions and conditions prescribed by the General Assembly, that shall be
administered in the best interests of the beneficiaries thereof. To that end and
for the purposes of providing adequate benefits and pensions to members,
encouraging stable employer contribution rates, and ensuring the overall
soundness of the Retirement System, the General Assembly hereby establishes the
Virginia Retirement System as an independent agency of the Commonwealth,
exclusive of the legislative, executive, and judicial branches of government, in
the following provisions.

HISTORY: 1994, c. 85; 2022, c. 294.