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2018 Session

Budget Amendments - SB30 (Floor Approved)

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VCSP - Investment Director (language only)

Item 485 #1h

Item 485 #1h

Independent Agencies
Virginia College Savings Plan

Language

Page 485, after line 5, insert:

"E. "The newly created Investment Director position at the Virginia College Savings Plan shall assist the CEO and Board in directing, managing, and administering the Plan's assets. The Investment Director shall serve at the pleasure of the Board and may be removed by a majority vote of the Board."



Explanation

(This amendment requires that the newly created Investment Director report directly to the Virginia529 Board in order to ensure appropriate independence in the management of Virginia529 investments.)