A. The Board may designate the president and staff of a not-for-profit entity established pursuant to this article to carry out the day-to-day operations and activities of the Authority and to perform such other duties as may be directed by the Board.
B. The president shall employ or retain such agents or employees subordinate to the president as may be necessary to fulfill the duties of the Authority and the not-for-profit entity designated herein. Employees shall be eligible for membership in the Virginia Retirement System and participation in all of the health and related insurance and other benefits, including premium conversion and flexible benefits, available to state employees as provided by law.