HB 1326-FN - AS INTRODUCED
2020 SESSION
20-2326
10/04
HOUSE BILL 1326-FN
SPONSORS: Rep. Schuett, Merr. 20; Rep. Desjardin, Hills. 13; Rep. Doherty, Merr. 20; Rep. Schultz, Merr. 18; Rep. Ellison, Merr. 27; Rep. M. Pearson, Rock. 34
COMMITTEE: Executive Departments and Administration
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ANALYSIS
This bill requires the quarterly report of the retirement system's independent investment committee to include a description of investment fees. The bill also requires independent investment committee reports to be available on the retirement system's Internet website,
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
20-2326
10/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Retirement System; Investment Committee; Report on Investment Fees. Amend RSA 100-A:15, II-a(c) to read as follows:
(c) Report to the board of trustees at least quarterly on the management, investment, and reinvestment activities of the independent investment committee. The report shall include a description of all fees incurred due to investment transactions.
2 Retirement System; Independent Investment Committee; Reports. RSA 100-A:15, X is repealed and reenacted to read as follows:
X. The quarterly report of the independent investment committee under paragraph II(c) and the comprehensive annual financial report under paragraph VI shall be made available for public inspection on the retirement system's Internet website.
3 Effective Date. This act shall take effect 60 days after its passage.
20-2326
10/24/19
HB 1326-FN- FISCAL NOTE
AS INTRODUCED
FISCAL IMPACT: [ ] State [ ] County [ ] Local [ X ] None
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METHODOLOGY:
This bill requires the New Hampshire Retirement System (NHRS) to include a description of all fees incurred due to investment transactions in the quarterly report on investment activity of the independent investment committee. The bill also requires NHRS to post quarterly and annual financial reports on their website. The NHRS states there is no expected fiscal impact to system operations, funds or employer contribution rates as a result of these new requirements.
AGENCIES CONTACTED:
New Hampshire Retirement System
| Date | Body | Type |
|---|---|---|
| Jan. 28, 2020 | House | Hearing |
| Feb. 12, 2020 | House | Exec Session |
| House | Floor Vote | |
| March 11, 2020 | House | Floor Vote |
June 16, 2020: No Pending Motion; 06/16/2020 SJ 8
June 16, 2020: Introduced 06/16/2020, and Laid on Table, MA, VV; 06/16/2020; SJ 8
March 11, 2020: Ought to Pass: MA VV 03/11/2020 HJ 7 P. 26
March 11, 2020: Committee Report: Ought to Pass for 03/11/2020 (Vote 20-0; CC) HC 10 P. 16
: Committee Report: Ought to Pass (Vote 20-0; CC)
Feb. 12, 2020: Executive Session: 02/12/2020 10:00 am LOB 306
Jan. 28, 2020: Public Hearing: 01/28/2020 01:00 pm LOB 306
Jan. 8, 2020: Introduced 01/08/2020 and referred to Executive Departments and Administration HJ 1 P. 18