MS HB152

Requires the Public Employees' Retirement System (PERS) board to issue requests for proposals to investment managers for international equity strategies that exclude companies with business ties to Iran, North Korea, Syria, or Sudan by September 1, 2010.

Defines "global security risk prohibitive companies" as foreign companies with active business ties (including ownership, employees, facilities, goods/services, loans, or equity investments) in the four specified countries, as determined by independent third-party research firms.

Mandates divestiture of prohibited companies from international equity portfolios on a phased schedule: no more than 50% of holdings may include such companies by July 1, 2011, and zero percent by January 1, 2012 and thereafter.

Exempts United Nations-certified nongovernmental organizations and companies engaged solely in humanitarian, health, religious, educational, or journalistic activities in the specified countries from the exclusion and divestiture requirements.

Protects the PERS board, executive director, and employees from liability for breach of fiduciary duty for decisions to restrict, reduce, or eliminate investments in global security risk prohibitive companies in compliance with the act.