Bill > HB2571

This bill, known as the Public Pension Protection Act, establishes strict guidelines for how public pension benefit plans must be managed by fiduciaries (people responsible for managing pension assets). The bill defines key terms and mandates that fiduciaries can only make investment decisions based on "pecuniary factors" - meaning financial considerations that directly impact the plan's financial return or risk. Environmental, social, and political considerations can only be considered if they have a clear, quantifiable economic impact. Fiduciaries are required to act solely in the financial interest of plan participants, focusing on providing benefits and covering administrative expenses, and must use the same level of care and prudence a professional investor would use. The bill prohibits using pension investments to advance non-financial goals and requires that any investment decisions be made with the exclusive aim of maximizing financial returns. Additionally, the bill stipulates that shares held by pension plans must be voted only in the pecuniary interest of participants, and the authority to vote these shares must rest with a politically accountable official. The Attorney General is authorized to enforce these provisions, ensuring compliance with the new regulations designed to protect the financial integrity of public pension plans.

Military Affairs and Security

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2571