Bill > SF3454

This bill repeals a specific annual reporting requirement for firefighter relief associations and the State Board of Investment related to disclosing investment business recipients. Currently, the law requires the chief administrative officers of covered pension plans and the executive director of the State Board of Investment to annually prepare and submit a written disclosure document detailing the recipients of investment business, such as commercial banks, investment bankers, and brokerage organizations. The disclosure must be prepared within 60 days after the fiscal year ends, made available for public inspection, and filed with the Legislative Commission on Pensions and Retirement within 90 days. By repealing Minnesota Statutes section 356A.06, subdivision 5, this bill eliminates this reporting obligation, which means these organizations will no longer need to create and submit these detailed annual investment recipient disclosures.

Government Affairs

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF3454&ssn=0&y=2025