2018 Special Session I

Budget Amendments - HB5002 (Committee Approved)

View Budget Item
View Budget Item amendments

VCSP - Investment Director (language only)

Item 485 #1h

Item 485 #1h

Independent Agencies
Virginia College Savings Plan


Page 429, 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."


(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.)