HB 1326-FN - AS INTRODUCED
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
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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
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:
(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 RSA 100-A:15, X is repealed and reenacted to read as follows: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.
HB 1326-FN- FISCAL NOTE
FISCAL IMPACT: [ ] State [ ] County [ ] Local [ X ] None
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.
New Hampshire Retirement System
|Jan. 28, 2020||House||Hearing|
|Feb. 12, 2020||House||Exec Session|
|March 11, 2020||House||Floor Vote|
|Jan. 8, 2020||Introduced 01/08/2020 and referred to Executive Departments and Administration HJ 1 P. 18|
|Jan. 28, 2020||Public Hearing: 01/28/2020 01:00 pm LOB 306|
|Feb. 12, 2020||Executive Session: 02/12/2020 10:00 am LOB 306|
|Committee Report: Ought to Pass (Vote 20-0; CC)|
|March 11, 2020||Committee Report: Ought to Pass for 03/11/2020 (Vote 20-0; CC) HC 10 P. 16|
|March 11, 2020||Ought to Pass: MA VV 03/11/2020|
|June 16, 2020||Introduced 06/16/2020, and Laid on Table, MA, VV; 06/16/2020; SJ 8|
|June 16, 2020||No Pending Motion; 06/16/2020 SJ 8|