23 LC 43 2562
H. B. 285
- 1 -
House Bill 285
By: Representatives Franklin of the 160
th
, Carson of the 46
th
, Martin of the 49
th
, Williams of
the 148
th
, Rhodes of the 124
th
, and others
A BILL TO BE ENTITLED
AN ACT
To amend Article 7 of Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the
1
"Public Retirement Systems Investment Authority Law," so as to raise the limit for the total2
percentage of funds that the Employees' Retirement System of Georgia may invest in3
alternative investments; to provide for related matters; to repeal conflicting laws; and for4
other purposes.5
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:6
SECTION 1.7
Article 7 of Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the "Public8
Retirement Systems Investment Authority Law," is amended by revising paragraph (1) of9
subsection (d) of Code Section 47-20-87, relating to eligible large retirement systems10
authorized to invest in certain alternative investments, as follows:11
"(d)(1)(A) Alternative investments by an eligible large retirement system shall not in12
the aggregate exceed 10 percent of the eligible large retirement system's assets at any13
time.14
(B) Notwithstanding subparagraph (A) of this paragraph, alternative investments by15
the Georgia Firefighters' Pension Fund shall not in the aggregate exceed 15 percent of16
its assets at any time.17 23 LC 43 2562
H. B. 285
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(C) Notwithstanding subparagraph (A) of this paragraph, the Teachers' Retirement
18
System of Georgia shall not in the aggregate exceed 5 percent of such system's assets19
at any time.20
(D) Notwithstanding subparagraph (A) of this paragraph, the Employees' Retirement
21
System of Georgia shall not in the aggregate exceed 5 percent of such system's assets22
at any time."23
SECTION 2.24
All laws and parts of laws in conflict with this Act are repealed.25