The primary objective of the VPIC is to strive to maximize the 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. Specifically, in making investments for the Retirement Systems, the members of the VPIC shall exercise “reasonable care, skill, and caution” and “invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust.” Specific responsibilities include: • Allocation of assets • Selection and oversight of pension consultant(s) and custodian bank • Selection and oversight of investment managers • Establishment of appropriate investment policies and guidelines • Communication with the Treasurer’s office regarding all matters relating to investment of the Systems’ assets