25 LC 56 0319S/AP
House Bill 78 (AS PASSED HOUSE AND SENATE)
By: Representatives Franklin of the 160
th
, Carson of the 46
th
, Richardson of the 125
th
, Yearta
of the 152
nd
, and Cameron of the 1
st
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 raise the limit for the total percentage of funds that the Georgia4
Firefighters' Pension Fund may invest in alternative investments; to provide for related5
matters; to repeal conflicting laws; and for other purposes.6
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:7
SECTION 1.8
Article 7 of Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the "Public9
Retirement Systems Investment Authority Law," is amended by revising paragraph (1) of10
subsection (d) of Code Section 47-20-87, relating to eligible large retirement systems11
authorized to invest in certain alternative investments, as follows:12
"(d)(1)(A) Alternative investments by an eligible large retirement system shall not in13
the aggregate exceed 10 percent of the eligible large retirement system's assets at any14
time.15
H. B. 78
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(B) Notwithstanding subparagraph (A) of this paragraph, alternative investments by
16
the Georgia Firefighters' Pension Fund shall not in the aggregate exceed 15
20 percent17
of its assets at any time.18
(B.1) Notwithstanding subparagraph (A) of this paragraph, alternative investments by19
the Peace Officers' Annuity and Benefit Fund shall not in the aggregate exceed 1520
percent of its assets at any time.21
(C) Notwithstanding subparagraph (A) of this paragraph, the Teachers' Teachers22
Retirement System of Georgia shall not in the aggregate exceed 5 percent of such23
system's assets at any time.24
(D) Notwithstanding subparagraph (A) of this paragraph, the Employees' Retirement25
System of Georgia shall not in the aggregate exceed 5 percent of such system's assets26
at any time."27
SECTION 2.28
All laws and parts of laws in conflict with this Act are repealed.29
H. B. 78
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