| 8 | 7 | | A BILL TO BE ENTITLED |
|---|
| 9 | 8 | | AN ACT |
|---|
| 10 | 9 | | To amend Article 7 of Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the |
|---|
| 11 | 10 | | 1 |
|---|
| 12 | 11 | | "Public Retirement Systems Investment Authority Law," so as to raise the limit for the total2 |
|---|
| 13 | 12 | | percentage of funds that the Peace Officers' Annuity and Benefit Fund may invest in3 |
|---|
| 14 | 13 | | alternative investments; to provide for related matters; to repeal conflicting laws; and for4 |
|---|
| 15 | 14 | | other purposes.5 |
|---|
| 16 | 15 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:6 |
|---|
| 17 | 16 | | SECTION 1.7 |
|---|
| 18 | 17 | | Article 7 of Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the "Public8 |
|---|
| 19 | 18 | | Retirement Systems Investment Authority Law," is amended by revising paragraph (1) of9 |
|---|
| 20 | 19 | | subsection (d) of Code Section 47-20-87, relating to eligible large retirement systems10 |
|---|
| 21 | 20 | | authorized to invest in certain alternative investments, as follows:11 |
|---|
| 22 | 21 | | "(d)(1)(A) Alternative investments by an eligible large retirement system shall not in12 |
|---|
| 23 | 22 | | the aggregate exceed 10 percent of the eligible large retirement system's assets at any13 |
|---|
| 24 | 23 | | time.14 23 LC 43 2610 |
|---|
| 25 | 24 | | S. B. 128 |
|---|
| 26 | 25 | | - 2 - |
|---|
| 27 | 26 | | (B) Notwithstanding subparagraph (A) of this paragraph, alternative investments by |
|---|
| 28 | 27 | | 15 |
|---|
| 29 | 28 | | the Georgia Firefighters' Pension Fund shall not in the aggregate exceed 15 percent of16 |
|---|
| 30 | 29 | | its assets at any time.17 |
|---|
| 31 | 30 | | (B.1) Notwithstanding subparagraph (A) of this paragraph, alternative investments by |
|---|
| 32 | 31 | | 18 |
|---|
| 33 | 32 | | the Peace Officers' Annuity and Benefit Fund shall not in the aggregate exceed 1519 |
|---|
| 34 | 33 | | percent of its assets at any time.20 |
|---|
| 35 | 34 | | (C) Notwithstanding subparagraph (A) of this paragraph, the Teachers' Retirement21 |
|---|
| 36 | 35 | | System of Georgia shall not in the aggregate exceed 5 percent of such system's assets22 |
|---|
| 37 | 36 | | at any time.23 |
|---|
| 38 | 37 | | (D) Notwithstanding subparagraph (A) of this paragraph, the Employees' Retirement24 |
|---|
| 39 | 38 | | System of Georgia shall not in the aggregate exceed 5 percent of such system's assets25 |
|---|
| 40 | 39 | | at any time."26 |
|---|
| 41 | 40 | | SECTION 2.27 |
|---|
| 42 | 41 | | All laws and parts of laws in conflict with this Act are repealed.28 |
|---|