SB 322

Status: Sent to governor
Author: Sen. Joan Huffman
Sponsor: Rep. Jim Murphy
Summary: Expands requirements on public pension funds to ensure transparency and best practices for investment activities. Each pension fund must be evaluated by an independent firm to evaluate the appropriateness, adequacy and effectiveness of the system's investment practices. The report must be submitted to the fund's governing body (e.g., the TRS Board of Trustees) and the State Pension Review Board (PRB), the latter of which will forward a summary report to appropriate state elected officials.

The annual financial report of a public pension governing body must include a listing of all direct and indirect commissions and fees paid by the system during the previous year. The most recent data from the reports will be posted on the PRB website or an affiliated website.​

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