Bill Text - SB28 (2019)

Relative to an active employee member of the retirement system independent investment committee.


Revision: Jan. 14, 2019, 10:04 a.m.

SB 28  - AS INTRODUCED

 

 

2019 SESSION

19-0960

10/08

 

SENATE BILL 28

 

AN ACT relative to an active employee member of the retirement system independent investment committee.

 

SPONSORS: Sen. Cavanaugh, Dist 16

 

COMMITTEE: Executive Departments and Administration

 

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ANALYSIS

 

This bill requires that one of the members on the independent investment committee of the retirement system be an active member employee appointed from a list of nominations.

 

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

19-0960

10/08

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Nineteen

 

AN ACT relative to an active employee member of the retirement system independent investment committee.

 

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

 

1  Retirement System; Independent Investment Committee; Appointments.  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.  One of the 3 persons appointed by the governor with the consent of the council shall be an active employee member in the retirement system chosen from a list submitted upon a vacancy of up to 3 persons nominated by each of the following organizations:  the New Hampshire State Employees' Association, the New Hampshire Education Association, the New Hampshire AFL-CIO, the New Hampshire Police Association, and the Professional Fire Fighters of New Hampshire.

2  Effective Date.  This act shall take effect 60 days after its passage.