Bill Summary for H 1237 (2013-2014)
May 27 2014
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AN ACT TO REQUIRE THE STATE TREASURER TO COLLECT AND MAINTAIN AS PUBLIC RECORDS ALL INFORMATION AND DOCUMENTATION RELATED TO FEES PAID TO INVESTMENT MANAGERS ENTRUSTED WITH THE FUNDS OF THE STATE RETIREMENT SYSTEMS AND RELATED TO THE PERFORMANCE OF THOSE INVESTMENT MANAGERS.Intro. by Setzer, T. Moore, Johnson, Moffitt.
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Amends GS 147-69.7(b) to add the requirement that the State Treasurer, in investing and managing assets of the Retirement Systems, collect and maintain as public records the amounts in fees paid to each investment manager, the performance of each investment manager, and all documents related to the investments. Specifies what the fee information is to include. Specifies that the information is a public record and is not confidential or a trade secret. Effective July 1, 2014, and applies to information and documentation related to fees paid on or after that date.