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GA HB1056

Bill

Official Source

Status

Passed

5/2/2022

Primary Sponsor

Dewayne Hill

Click for details

Origin

House of Representatives

2021-2022 Regular Session

AI Summary

  • Increases the cap on alternative investments for the Georgia Firefighters' Pension Fund from 10% to 15% of total fund assets
  • Repeals Code Section 47-7-127, which contained specific definitions of alternative investments and a code of ethics requirement applicable to the Firefighters' Pension Fund
  • Retains the general 10% alternative investment cap for other eligible large retirement systems, and the 5% cap for both the Teachers' Retirement System and the Employees' Retirement System of Georgia
  • Becomes effective immediately upon the Governor's approval or upon becoming law without such approval

Legislative Description

Georgia Firefighters' Pension Fund; authority to make alternative investments; repeal certain restrictions

Last Action

Effective Date 2022-05-02

5/2/2022

Committee Referrals

Retirement3/1/2022
Retirement1/27/2022

Full Bill Text

No bill text available