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Bill > A1138

NJ A1138

NJ A1138
Adds member from Judicial Retirement System to State Investment Council.

summary

Introduced
01/11/2022
In Committee
01/11/2022
Crossed Over
Passed
Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

Under current law, the membership of the State Investment Council includes one representative each from the Board of Trustees of the Public Employees' Retirement System and the Board of Trustees of the Teachers' Pension and Annuity Fund. This bill would add a member to represent the Judicial Retirement System (JRS). Under the bill, the Chief Justice of the New Jersey Supreme Court would designate one board member of the Board of Trustees of the JRS to serve on the council. This change would increase the council's membership from 15 to 16 total members. The State Investment Council was created by law to formulate policies the Director of the Division of Investment follows when investing the State's pension funds, including JRS funds.

AI Summary

This bill adds a member from the Judicial Retirement System (JRS) to the State Investment Council. Currently, the council has 15 members, including representatives from the Public Employees' Retirement System and the Teachers' Pension and Annuity Fund. Under this bill, the Chief Justice of the New Jersey Supreme Court would designate one board member of the JRS to serve on the council, increasing the total membership to 16. The State Investment Council is responsible for formulating policies that the Director of the Division of Investment follows when investing the state's pension funds, including JRS funds.

Committee Categories

Government Affairs

Sponsors (2)

Last Action

Introduced, Referred to Assembly State and Local Government Committee (on 01/11/2022)
(1 Companion Bills)

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