Bill Summary for H 1079 (2013-2014)
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Summary date:
May 15 2014
Bill Information:
| View NCGA Bill Details | 2013-2014 Session |
A BILL TO BE ENTITLED AN ACT TO CREATE TWO RECEIPT-SUPPORTED POSITIONS FOR A COMPLIANCE UNIT WITHIN THE RETIREMENT SYSTEMS DIVISION OF THE DEPARTMENT OF STATE TREASURER, AS RECOMMENDED BY THE LEGISLATIVE RESEARCH COMMISSION'S COMMITTEE ON TREASURER INVESTMENT TARGETS AND STATE EMPLOYEE RETIREMENT OPTIONS.Intro. by S. Ross, Collins.
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Bill summary
Creates two receipt-supported positions in the Department of State Treasurer, Retirement Systems Division with the purpose of staffing a compliance unit in the Division. Purposes of the unit include reducing the risk of fraud, abuse and waste. Provides that receipts for the positions can come from contributions, investment income, or other assets of the retirement system under the management of the State Treasurer.
Effective July 1, 2014.