House Bill 742

Actions | Amendments
Last Action 03/28/24: 2nd reading, to Rules
Title AN ACT relating to the fiduciary duties owed to the state-administered retirement systems.
Bill Documents Introduced
Fiscal Impact Statement Additional Fiscal Impact Statements Exist
Bill Request Number 2324
Sponsor S. Sharp
Summary of Original Version Amend KRS 61.650, relating to fiduciary duties owed to the Kentucky Retirement Systems, to make a technical correction.
Index Headings of Original Version Fiduciaries - Kentucky Retirement Systems, fiduciaries, make technical correction
Retirement and Pensions - Kentucky Retirement Systems, fiduciaries, make technical correction
State Agencies - Kentucky Retirement Systems, fiduciaries, make technical correction
Jump to Proposed Amendments House Committee Substitute 1 with Fiscal Impact Statements

Actions

Top | Amendments
02/26/24
  • introduced in House
  • to Committee on Committees (H)
03/15/24
  • to Banking & Insurance (H)
03/27/24
  • reported favorably, 1st reading, to Calendar with Committee Substitute (1)
03/28/24
  • 2nd reading, to Rules

Proposed Amendments

Top | Actions
Amendment House Committee Substitute 1
Fiscal Impact Statement Actuarial Analysis to House Committee Substitute 1
Summary Retain original provisions, except amend KRS 21.450, 61.650, 78.790, and 161.430 relating to the fiduciary duties owed to the state-administered retirement systems to define "shareholder-sponsored proposal" and "economic analysis"; require a proxy adviser under contract with a state-administered retirement system to conduct and document an economic analysis prior to voting on or recommending a vote on a shareholder-sponsored proposal that is inconsistent with the recommendation of the board of directors of the issuer of shares in order to demonstrate that a vote against management's recommendation is solely in the interest of the retirement plan members and beneficiaries; make technical corrections.
Index Headings Actuarial Analysis - State-administered retirement systems, economic analysis of shareholder proposals, requirement
Fiduciaries - State-administered retirement systems, economic analysis of shareholder proposals, requirement
Fiduciaries - State-administered retirement systems, fiduciaries, technical correction
Retirement and Pensions - State-administered retirement systems, economic analysis of shareholder proposals, requirement
Retirement and Pensions - State-administered retirement systems, fiduciaries, technical correction
State Agencies - State-administered retirement systems, economic analysis of shareholder proposals, requirement
State Agencies - State-administered retirement systems, fiduciaries, technical correction

Last updated: 9/26/2024 1:37 PM (EDT)