Establishing Statute: 3 V.S.A. § 522
Description: The Vermont pension investment committee shall be responsible for the investment of the assets of the state teachers' retirement system of Vermont, the Vermont state employees' retirement system, and the Vermont municipal employees' retirement system pursuant to section 472 of this title, 16 V.S.A. 1943, and 24 V.S.A. 5063. The committee shall strive to maximize total return on investment, within acceptable levels of risk for public retirement systems, in accordance with the standards of care established by the prudent investor rule under 14A V.S.A. 902. The committee may, in its discretion, subject to approval by the attorney general, also enter into agreements with municipalities administering their own retirement systems to invest retirement funds for those municipal pension plans. The state treasurer shall serve as the custodian of the funds of all three retirement systems.
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