Revision: Oct. 16, 2023, 11:14 a.m.
2024 SESSION
24-2412.0
10/02
HOUSE BILL [bill number]
AN ACT relative to agents for investment services in the New Hampshire retirement system.
SPONSORS: [sponsors]
COMMITTEE: [committee]
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ANALYSIS
This bill requires the board of trustees of the retirement system to hire more than one service provider for the actuarial, agency, and investment services required.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
24-2412.0
10/02
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Four
AN ACT relative to agents for investment services in the New Hampshire retirement system.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Retirement System; Service Providers. Amend RSA 100-A:15, II to read as follows:
II. The board of trustees shall:
(a) Have the authority to hire actuarial services. The compensation for actuarial services required by the board of trustees shall be a charge upon the funds of the New Hampshire retirement system.
(b) Have the full power and authority to delegate to any agent providing services to the New Hampshire retirement system, within or without the state, the power and discretion to make any necessary decisions and to take any action necessary to effect decisions with the same legal effect as if performed by the board of trustees. The payment for these services shall be a charge upon the funds of the New Hampshire retirement system.
(c) Have the authority to hire investment consultants. The compensation for investment consultant services shall be a charge upon the funds of the New Hampshire retirement system.
(d) For each service provided in subparagraphs (a) through (c), contract with more than one service provider and develop criteria for the review of the services provided.
2 Effective Date. This act shall take effect 60 days after its passage.