Bill Text: MS SB2129 | 2014 | Regular Session | Introduced
Bill Title: PERS; require trustees to conduct a study to determine the advisability of investing excess funds in income-producing property.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2014-02-04 - Died In Committee [SB2129 Detail]
Download: Mississippi-2014-SB2129-Introduced.html
MISSISSIPPI LEGISLATURE
2014 Regular Session
To: Finance
By: Senator(s) Kirby
Senate Bill 2129
AN ACT TO REQUIRE THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO CONDUCT A STUDY TO DETERMINE THE ADVISABILITY OF UTILIZING A PORTION OF THE FUNDS IN EXCESS OF THE CASH WORKING BALANCE REQUIRED TO BE MAINTAINED BY THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO INVEST IN INCOME-PRODUCING PROPERTY; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) The Board of Trustees of the Public Employees' Retirement System shall conduct a study to determine the advisability of utilizing a portion of the funds in excess of the cash working balance required to be maintained by the Public Employees' Retirement System to invest in income-producing property. The study shall include, but not be limited to, an investigation of the advisability of the utilization of such excess funds by the Public Employees' Retirement System to purchase or construct buildings to be leased to state agencies.
(2) The Board of Trustees of the Public Employees' Retirement System shall file copies of the study required by this section, along with any suggested legislation related to the study, with the Secretary of the Senate and the Clerk of the House of Representatives by not later than December 31, 2014.
SECTION 2. This act shall take effect and be in force from and after its passage.
