House Bill 408

Actions
Last Action 02/12/20: to State Government (H)
Title AN ACT relating to Kentucky investments by public pension funds.
Bill Documents Introduced
Fiscal Impact Statement Actuarial Analysis
Bill Request Number 1030
Sponsor J. Nemes
Summary of Original Version Amend KRS 16.642, 61.650, 78.790, and 161.430, to establish a goal for the Kentucky Retirement Systems and the Teachers' Retirement System to invest at least 1.5% of fund assets in Kentucky private equity fund investments provided any such investment is consistent with the board's fiduciary responsibility and duties; define Kentucky private equity fund investments as an entity that makes, manages, or sources potential investments in Kentucky businesses from individuals or institutional investors; establish requirements for the systems to notify the business community of potential investment opportunity with the systems; require reporting to the Legislative Research Commission on progress toward the goal of investment system assets in Kentucky private equity funds.
Index Headings of Original Version Public Officers and Employees - State Retirement Systems, goal to invest 1.5% of assets in Kentucky private equity fund investments
Retirement and Pensions - Kentucky Retirement Systems, goal to invest 1.5% of assets in Ky. private equity fund investments
Retirement and Pensions - Teachers' Retirement System, goal to invest 1.5% of assets in Ky. private equity fund investments
State Agencies - State Retirement Systems, goal to invest 1.5% of assets in Kentucky private equity fund investments
Actuarial Analysis - State Retirement Systems, goal to invest 1.5% of assets in Kentucky private equity fund investments

Actions

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02/10/20
  • introduced in House
02/12/20
  • to State Government (H)


Last updated: 4/29/2020 12:16 PM (EDT)
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