Georgia SB 335: Retirement; permissible investments in commingled funds and collective investment funds; revise provisions

Status: Effective Date (as of 2016-07-01)

State: Georgia · Session: 2015_16 · Bill: SB 335

Sponsors: Chuck Hufstetler, David Lucas, Ellis Black, Emanuel Jones, Hunter Hill

Bill Text

Department of Audits and Accounts
270 Washington Street, S.W., Suite 1-156
Atlanta, Georgia 30334-8400
Greg S. Griffin
State Auditor
(404) 656-2174
February 2, 2016
The Honorable Ellis Black
State Senator
Coverdell Legislative Office Building, Room 304-A
Atlanta, Georgia 30334
SUBJECT: State Auditor's Certification
Senate Bill 335 (LC 43 0274)
Dear Senator Black:
This bill would amend provisions relating to the Public Retirement Systems Investment Authority Law.
Currently, retirement systems are authorized to invest in commingled funds and collective investment
funds regulated by the Office of the Comptroller of the Currency of the United States Department of the
Treasury. If this legislation is enacted, retirement systems would also be authorized to invest in
commingled funds and collective investment funds that are maintained by state chartered banks or trust
companies.
This is to certify that this bill is a nonfiscal retirement bill as defined in the Public Retirement
Systems Standards Law.
Respectfully,
Greg S. Griffin State Auditor
GSG/cs

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