| Last Action | 02/19/25: to State & Local Government (S) |
|---|---|
| Title | AN ACT relating to the fiduciary duties owed to the state-administered retirement systems. |
| Bill Documents | Introduced |
| Fiscal Impact Statement | Actuarial Analysis |
| Bill Request Number | 1546 |
| Sponsors | M. Nunn, S. Rawlings, S. Madon, R. Mills, C. Richardson, L. Tichenor, P. Wheeler |
| Summary of Original Version | 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 of Original Version |
Fiduciaries - State-administered retirement systems, economic analysis of shareholder proposals, requirement Retirement and Pensions - State-administered retirement systems, economic analysis of shareholder proposals, requirement State Agencies - State-administered retirement systems, economic analysis of shareholder proposals, requirement Actuarial Analysis - State-administered retirement systems, economic analysis of shareholder proposals, requirement |
| 02/14/25 |
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| 02/19/25 |
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Last updated: 2/21/2025 4:29 PM (EST)