Bill > SB232

This bill modifies the investment standards for moneys managed by the Kansas Public Employees Retirement System (KPERS) Board of Trustees that are certified by the state treasurer as equivalent to unclaimed property funds. The key change allows the board to invest up to 5% of available cash in bonds, notes, or other obligations from foreign governments that meet specific criteria: the country must be listed as an industrial country by the International Monetary Fund, have full faith and credit backing, and maintain a high credit rating (at least A- by Standard & Poor's or A3 by Moody's). The bill explicitly prohibits investments in securities from countries identified as state sponsors of terrorism or those with authoritarian governments not elected through legitimate voting. The investment approach remains focused on preserving funds while maximizing productivity, requiring prudent diversification and risk management. The board must continue to follow existing guidelines about investment responsibilities, including obtaining proper insurance and fidelity bonds for investment advisors, reporting investment performance, and depositing all investment income into the state general fund. These new provisions expand the board's investment options while maintaining strict oversight and risk mitigation standards.

Business and Industry

Federal and State Affairs (S)

https://kslegislature.gov/li/b2025_26/measures/sb232/