MS SB2899

Declares state public policy that Public Employees' Retirement System (PERS) Board of Trustees must invest monies solely to maximize safety and return on investment, without consideration for nonpecuniary or political beliefs.

Amends Section 25-11-121 of Mississippi Code to require the PERS board to make investment decisions with the sole purpose of maximizing safety and return on investments.

Prohibits the PERS board from making investment decisions with the primary purpose of influencing social or environmental policy or attempting to influence corporate governance.

Prohibits the PERS board from sacrificing investment returns or assuming greater investment risks to promote social policy goals, aligning with U.S. Department of Labor guidance on fiduciary standards.

Takes effect July 1, 2024.