AN ACT TO MAKE CLARIFYING AND ADMINISTRATIVE CHANGES TO THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM AND THE LOCAL GOVERNMENT EMPLOYEES' RETIREMENT SYSTEM LAWS AND RELATED STATUTES.
House committee substitute makes the following changes to the 1st edition.
Amends GS 135-8(b)(1) to make a clarifying change.
Amends GS 128-30(b)(1) to make clarifying changes.
Adds a section amending GS 147-69.2A, to provide that following a public procurement process, the specified designees must jointly and unanimously select a third-party professional investment management firm, subject to the rules and regulations of (was, registered with) the US Securities and Exchange Commission for fund administration.
Adds a section amending GS 147-86.73(g1) to refer to the ABLE Account application package instead of application form.
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