Saturday, October 07, 2006

Question 3b Abolishes Investment Panel (I'll vote yes)
“Must the second through the seventh sentences of the fourth paragraph of Section 16, Article X of the Constitution of this State relating to the establishment and membership of the State Retirement Systems Investment Panel be amended by deleting these sentences thereby abolishing this constitutionally established panel?”
If the question is approved, the State Retirement Systems Investment Panel would be abolished.
Proposed Explanation
This amendment would eliminate the Investment Panel, an advisory body, and its accompanying expenses.


At 9:19 AM, Blogger Sen. Kevin L. Bryant said...

Previously, the Budget & Control Board made the investment decisions as they were advised by the Retirement System Advisory Panel. Last year the legislature created the Retirement Investment Commission. This new commission has 5 members with the State Treasurer serving ex-officio. The old Retirement System Advisory Panel is no longer necessary, therefore the constitution no longer needs to define it.


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