Bill Text - SB140 (2017)

Revision: June 19, 2017, 11:17 a.m.

CHAPTER 151

SB 140 - FINAL VERSION

 

03/16/2017   0818s

4May2017... 1346h

2017 SESSION

17-0888

10/04

 

SENATE BILL 140

 

AN ACT relative to the independent investment committee in the New Hampshire retirement system.

 

SPONSORS: Sen. Soucy, Dist 18; Sen. Watters, Dist 4; Rep. Proulx, Hills. 44; Rep. Danielson, Hills. 7

 

COMMITTEE: Executive Departments and Administration

 

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AMENDED ANALYSIS

 

This bill establishes terms for the retirement system’s independent investment committee members.

 

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

03/16/2017   0818s

4May2017... 1346h 17-0888

10/04

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Seventeen

 

AN ACT relative to the independent investment committee in the New Hampshire retirement system.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

151:1  Retirement System; Independent Investment Committee.  Amend RSA 100-A:14-b, I to read as follows:

I.  The independent investment committee shall consist of not more than 5 members, 3 of whom shall be persons who are not members of the board of trustees appointed by the governor with the consent of the council, and up to 2 of whom shall be members of the board of trustees appointed by the chairperson of the board of trustees.  Each independent investment committee member shall serve for a term of 3 years.

151:2  Application; Appointments.  

I.  The 3 members of the independent investment committee appointed by the governor with the consent of the council, under RSA 100-A:14-b, I as amended by section 1 of this act, shall be appointed for 3-year terms beginning July 1, 2017.

II.  The 2 members of the independent investment committee appointed by the chairperson of the board of trustees, under RSA 100-A:14-b, I as amended by section 1 of this act, shall be appointed for 3-year terms beginning July 1, 2018.

151:3  Effective Date.  This act shall take effect 60 days after its passage.

 

Approved: June 16, 2017

Effective Date: August 15, 2017