| 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 |
| 02/26/24 |
|
|---|---|
| 03/15/24 |
|
| 03/27/24 |
|
| 03/28/24 |
|
| 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: 4/22/2024 3:57 PM (EDT)