Bill Summary for H 357 (2013-2014)
Jun 26 2013
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A BILL TO BE ENTITLED AN ACT TO INCREASE CITIZEN OVERSIGHT AND TO MAKE OTHER CONSOLIDATIONS AND IMPROVEMENTS IN THE GOVERNANCE OF THE STATE RETIREMENT SYSTEMS, AND TO IMPROVE TRANSPARENCY BY ENSURING THAT ALL RETIREMENT PLANS ADMINISTERED BY THE DEPARTMENT OF STATE TREASURER ARE OVERSEEN BY A BOARD OF TRUSTEES.Intro. by Moffitt, Howard, W. Brawley, Collins.
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Senate committee substitute makes the following changes to the 2nd edition.
Amends GS 128-28(c), providing that five members (was, six members) from the Board of Trustees of the Teachers' and State Employees' Retirement System will be appointed to the Supplemental Retirement Board of Trustees. Requires the Governor to appoint eight members (was, six), to the Supplemental Retirement Board on April 1 of years in which an election is held for the office of Governor, or as soon thereafter as possible. Makes conforming changes.
Amends GS 135-97, concerning immunity for those serving on the Supplemental Retirement Board, making technical and clarifying changes.