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MS HB252
Bill
Status
3/17/2022
Primary Sponsor
Karl Oliver
Click for details
AI Summary
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Increases the maximum percentage of Public Employees' Retirement System (PERS) investments allowed in alternative investment types from 10% to 20% of total book value
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Alternative investments covered include separate accounts managed by SEC-registered investment advisory firms, limited partnerships, and commingled funds approved by the Board of Trustees
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Requires any person or entity exercising discretionary authority over these alternative investment accounts to act as a fiduciary
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Maintains all other existing PERS investment limitations, including the 80% cap on stocks, 5% cap on pooled funds, and 10% cap on real estate investments
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Effective date of July 1, 2022
Legislative Description
PERS; increase maximum percentage of investments of system that are in certain types of investments.
Last Action
Approved by Governor
3/17/2022