Prohibits the use of investment managers to assist with investments of monies in the common retirement fund; requires that all current contracts with investment managers not be renewed after a period of one year.
Allows any enrollee of the New York State common retirement fund to request a list of investment managers on contract with the office of state comptroller to make investment contracts for the office of state comptroller division of pensions, investment, and cash management and the contents of any contracts and opportunistic investment contracts made by such investment manager.
Establishes the reputational insight and oversight transparency act; restricts investments by certain firms that receive investments from any public retirement system or pension funds.
Prohibits the investment of certain public funds with the Trump organization; directs the comptroller to take appropriate action to sell, redeem, divest or withdraw any investment held in such organization.
Relates to investment income and capital gains on investments deferred or excluded under 26 U.S.C. section 1400-z-2.
Enacts the "New York state agency BIPOC asset management and financial institution strategy act" to ensure the promotion of equity, diversity, and inclusion within the state pension system and the New York city pension system's investments by mandating a minimum allocation of assets to BIPOC asset managers, BIPOC financial institutions, and BIPOC financial or professional service firms; addresses disparities in investment opportunities and fosters economic growth within BIPOC communities, aligning with best practices in investment management and bolstering the financial well-being of New York City and state and residents thereof.
Provides for limitations on investments of public pension funds and state contracts; prohibits the investment of the available monies of the common retirement fund in any stocks, securities, equities, assets or other obligations of any corporation or company, or any subsidiary, affiliate or parent of any corporation or company, engaged in the boycott of Israel, including Iran-restricted companies and Sudan-restricted companies; prohibits any firm, partnership or corporation that boycotts Israel, that is an Iran-restricted company or that is a Sudan-restricted company from contracting with the state.
Relates to investment management services to a partnership or other entity.
Extends provisions of law relating to temporary investments by local governments.
Relates to the use of MWBE investments for and aspirational goal of at least twenty percent of each New York state fund, to the greatest extent feasible within the bounds of financial and fiduciary prudence.