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SUMMARY OF THE 2005 ACTS AND RESOLVES

ACT NO. 50

(H.117)

Vermont retirement systems; asset allocation

This act creates a new joint investment committee, to be called the Vermont pension investment committee (VPIC), to oversee and constitute the trustees for the combined investment assets of the state teachers' retirement system of Vermont, the Vermont state employees' retirement system, and the Vermont municipal employees' retirement system.  The VPIC would comprise the trustees of the three retirement systems.  The three existing retirement boards would continue to oversee the operations of each system in areas such as actuarial valuation, medical disability, benefits revisions, contribution levels, and general administration as provided under current law. 

Effective Date: July 1, 2005



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us