Enacts new GS 147-69.9 to require the State Treasurer to prepare and issue at of the end of each fiscal year a set of financial statements regarding the investment programs for the Retirement Systems. Requires the statements to be audited. Requires the audit firm's report and the financial statements to be provided to the General Assembly no later than six months after the close of the reporting period. Requires a discussion of the Retirement Systems' risk and returns compared to benchmarks, total management fees and incentives paid, and comparisons to peer cost benchmarks to be included along with the financial statements.
TREASURER MODERNIZATION ACT.
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| View NCGA Bill Details(link is external) | 2015-2016 Session |
AN ACT TO ENHANCE THE ACCOUNTABILITY OF THE STATE RETIREMENT SYSTEM'S INVESTMENT PROGRAMS BY PROVIDING FOR AUDITED FINANCIAL STATEMENTS AND OTHER MEASURES.Intro. by S. Ross.
Status: Ref To Com On Pensions and Retirement (House Action) (Apr 1 2015)
Bill History:
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Tue, 31 Mar 2015 House: Filed(link is external)
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Wed, 1 Apr 2015 House: Passed 1st Reading(link is external)
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Wed, 1 Apr 2015 House: Ref To Com On Pensions and Retirement(link is external)
H 404
Bill Summaries:
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Bill H 404 (2015-2016)Summary date: Mar 31 2015 - View Summary
View: All Summaries for Bill