Bill > S06522

This bill amends the retirement and social security law to enhance transparency for enrollees of the New York State common retirement fund by requiring the disclosure of investment managers and investment contract details. Specifically, the bill mandates that any enrollee can request information about investment managers contracted with the Office of State Comptroller's Division of Pensions, Investment, and Cash Management, as well as the contents of their investment contracts. The bill introduces a new definition for "opportunistic investments," which includes one-off investments like private equity funds, hedge funds, and real estate funds that are sourced exclusively through a specific investment manager. These opportunistic investments may be available for a limited time and at a predetermined price, and can also include public market products and niche strategies. The bill updates language to use gender-neutral terms and provides additional structure to the existing law regarding investment management and advisory committees. The changes aim to increase transparency and provide more information to retirement fund participants about how their funds are being invested.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S6522