JLARC to receive semi-annual VRS Oversight review, audit of Virginia529’s legacy prepaid tuition plan

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The Joint Legislative Audit and Review Commission will meet Tuesday, July 6 to hear staff present their semi-annual Virginia Retirement System oversight review.

As part of its ongoing oversight authority of VRS, JLARC evaluates the retirement system’s structure and governance; investment portfolio structure; investment practices, policies, and performance; the actuarial policy and actuarial soundness of trust funds; and the management of the retirement system.

The meeting will be held at 10 a.m. in the Shared Committee room in the Pocahontas Building (Room E007, Ground Floor, 900 E. Main St.) in Richmond and will be livestreamed at the Virginia House of Delegates’ livestreaming page.

The report and presentations will be uploaded to JLARC’s website (jlarc.virginia.gov/calendar.asp) following the meeting.

In other business:

  • Gabriel, Roeder, Smith, and Company will present results from its independent actuarial audit of Virginia529’s legacy Prepaid529 program. JLARC, which has ongoing oversight of Virginia529, hired the consultant to conduct the audit, which is statutorily required every four years.
  • JLARC staff will present a brief update on the status of our Virginia Employment Commission study.

Augusta Health Augusta Free Press Kris McMackin CPA
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Augusta Free Press