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State Budget

1998 Session

Budget Amendments - HB30 (Conference Report)

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Priority needs-Investment Department

Item 568 #1c

Item 568 #1c

 First Year - FY1999 Second Year - FY2000
Independent Agencies
Virginia Retirement System FY1999 $55,000 FY2000 $88,000 NGF
FY1999 5.00 FY2000 7.00 FTE

Language
Page 335, line 12, strike "$5,813,195" and insert "$5,868,195".
Page 335, line 12, strike "$5,925,243" and insert "$6,013,243".

Explanation
(This amendment increases the investment staff and financial resources at the Virginia Retirement System to continue the aggressive strategy to reduce investment management costs and improve investment return. This amendment funds only a portion of the total cost. The Virginia Retirement System is funding the remainder with savings from insurance premium payments.)

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