HB17-1114 Summary

• Authorizes the state treasurer, as a member of the Public Employees' Retirement Association (PERA) board of trustees, to review all records and information within PERA's custody and control in furtherance of fiduciary duties to members and benefit recipients.

• Requires the PERA executive director or board to provide full and timely access to requested records upon the state treasurer's request, including financial rationale on returns, investment strategy and scope, and detailed investment information.

• Prohibits the PERA executive director or board from denying the state treasurer's request based on staff time expenditure, need for outside resources, or any other reason; the state treasurer is responsible for reasonable costs beyond de minimis expenses.

• Permits access to salary and benefit information contained in records of members, former members, inactive members, DPS members, DPS retirees, benefit recipients, and their dependents, while requiring PERA to withhold other information designated as confidential.

• Prohibits the state treasurer from using provided records or information for personal use and takes effect August 9, 2017, subject to referendum petition provisions.