23 LC 43 2610
S. B. 128
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Senate Bill 128
By: Senators Albers of the 56th, Robertson of the 29th, Dugan of the 30th, Payne of the 54th,
Anavitarte of the 31st and others
AS PASSED SENATE
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
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"Public Retirement Systems Investment Authority Law," so as to raise the limit for the total2
percentage of funds that the Peace Officers' Annuity and Benefit Fund 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 23 LC 43 2610
S. B. 128
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(B) Notwithstanding subparagraph (A) of this paragraph, alternative investments by
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the Georgia Firefighters' Pension Fund shall not in the aggregate exceed 15 percent of16
its assets at any time.17
(B.1) Notwithstanding subparagraph (A) of this paragraph, alternative investments by
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the Peace Officers' Annuity and Benefit Fund shall not in the aggregate exceed 1519
percent of its assets at any time.20
(C) Notwithstanding subparagraph (A) of this paragraph, the Teachers' Retirement21
System of Georgia shall not in the aggregate exceed 5 percent of such system's assets22
at any time.23
(D) Notwithstanding subparagraph (A) of this paragraph, the Employees' Retirement24
System of Georgia shall not in the aggregate exceed 5 percent of such system's assets25
at any time."26
SECTION 2.27
All laws and parts of laws in conflict with this Act are repealed.28