University of Virginia Library

APPROVAL OF REVISIONS TO THE INVESTMENT POLICY STATEMENT

(approved by the Finance Committee on June 7, 2007)

WHEREAS, the University is the plan sponsor of a number of defined contribution retirement plans; and

WHEREAS, on June 13, 1997, the Board delegated the authority to monitor the administration of the defined contribution retirement plans to the Investment Subcommittee of the Finance Committee; and

WHEREAS, subsequent to the June 13, 1997 meeting of the Board, the Investment Subcommittee of the Finance Committee became the University of Virginia Investment Management Company (UVIMCO); and

WHEREAS, effective July 1, 2004, the University of Virginia Investment Management Company (UVIMCO) became a separate University- related foundation; and

WHEREAS, at its June 2005 meeting, the Board of Visitors delegated to the Finance Committee the authority to monitor the administration of the defined contribution retirement plans on behalf of the Board; and

WHEREAS, the attached revised Retirement Program Policy incorporates this change in governance and other modifications, and is recommended by the Finance Committee appointees for approval;

RESOLVED that the Board of Visitors approves the Retirement Program Policy, included as Attachment B to this document.