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The Vermont Statutes Online

The Statutes below now include the actions of the 2026 session of the General Assembly.

NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.

Statutes› Title 16› Chapter 055› § 1943

Title 16 : Education

Chapter 055 : State Teachers' Retirement System of Vermont

(Cite as: 16 V.S.A. § 1943)

  • § 1943. Investments; interest rate; disbursements; standards of conduct

    (a) The members of the Vermont Pension Investment Commission established in 3 V.S.A. chapter 17 shall be the trustees of the Pension Fund created by this chapter, and with respect to them may invest and reinvest the assets of the Pension Fund, and hold, purchase, sell, assign, transfer, and dispose of the securities and investments in which the assets of the Pension Fund have been invested and reinvested. Investments shall be made in accordance with the standard of care established by the prudent investor rule under 14A V.S.A. chapter 9.

    (b) The Board from time to time shall set rates of regular interest at such percentages compounded annually as it determines to be equitable both to members and to taxpayers of the State, but not less than three percent nor more than five percent.

    (c) [Repealed.]

    (d) Except as otherwise provided in this section, no trustee and no employee of the Board shall have any direct interest in the gains or profits of any investment made by the Commission; nor shall any trustee or employee of the Board, directly or indirectly, for the trustee or employee personally or as an agent, in any manner use the same except to make such current and necessary payments as are authorized by the Board; nor shall any trustee or employee of the Board become an endorser or surety, or in any manner an obligor, for the monies loaned to or borrowed from the Board. The State Treasurer, with the approval of the Board, shall adopt by rule standards of conduct for trustees and employees of the Board in order to maintain and promote public confidence in the integrity of the Board. Such rules shall prohibit trustees and employees from receiving or soliciting any gift, including meals, alcoholic beverages, travel fare, room and board, or any other thing of value, tangible or intangible, from any vendor or potential vendor of investment services, management services, brokerage services, and other services to the Board. (Amended 1963, No. 110, § 4, eff. May 28, 1963; 1967, No. 13; 1967, No. 29, § 1, eff. March 14, 1967; 1981, No. 41, § 30; 1985, No. 171 (Adj. Sess.), § 4, eff. May 7, 1986; 1987, No. 80, § 9, eff. June 9, 1987; 1997, No. 67 (Adj. Sess.), § 3; 2005, No. 50, § 7; 2007, No. 13, § 31; 2015, No. 23, § 39; 2017, No. 165 (Adj. Sess.), § 16; 2019, No. 131 (Adj. Sess.), § 85; 2021, No. 75, § 7, eff. June 8, 2021; 2025, No. 131 (Adj. Sess.), § 17, eff. July 1, 2026.)