Bill > SB232

This bill modifies investment standards for certain state moneys managed by the Board of Trustees of the Kansas Public Employees Retirement System (KPERS), specifically those equivalent to unclaimed property funds. The key change authorizes the Board of Trustees to invest these funds in bonds, notes, or other obligations of foreign governments that are listed as industrial countries by the International Monetary Fund, have their full faith and credit pledged for repayment, and meet specific credit rating requirements (at least A- or A3 from major rating agencies like Standard & Poor's, Moody's, or Fitch, or an equivalent rating). These foreign investments are further restricted to countries that have never defaulted on their debt, are not identified as state sponsors of terrorism by the U.S. Department of State, and are not authoritarian or totalitarian governments. The bill also limits these foreign investments to no more than 5% of the available cash for investment at any given time and requires that any contracted investment advisors or service providers obtain errors and omissions insurance. The bill also updates the year referenced in the existing statute and repeals the prior version.

Business and Industry, Labor and Employment

Federal and State Affairs (Senate)

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