Bill > HB4381

This bill amends the Public Employee Retirement System Investment Act to modify the duties of an investment fiduciary. Key provisions include: - Requiring investment fiduciaries to act solely in the pecuniary interest of plan participants and beneficiaries, and consider only pecuniary factors when evaluating investments. - Expanding disclosure requirements for investment service providers and the content of annual reports published by retirement systems. - Placing restrictions on investments in foreign countries designated as state sponsors of terror and hazardous waste disposal facilities. - Requiring large sponsored systems to comply with certain conditions for out-of-state travel expenses. - Mandating that proxy voting and fiduciary meetings be publicly disclosed and broadcast. This bill aims to ensure public retirement systems make investment decisions based solely on financial considerations, increase transparency, and limit investments in certain high-risk or controversial entities.