Amends TCA Title 8, Chapter 37.
ON MARCH 28, 2022, THE HOUSE ADOPTED AMENDMENT #1 AND PASSED HOUSE BILL 2743, AS AMENDED. AMENDMENT #1 rewrites this bill to authorize the investment committee for the TCRS board of trustees to cause the retirement system to divest, as expeditiously as possible, from an investment the system has with an entity found to be doing business with or supporting a country sanctioned by the office of foreign assets control. Any such divestment must be made in a manner consistent with applicable provisions of the Uniform Prudent Investor Act, and the applicable portions of the board of trustees' investment policy relative to asset allocations and investment strategy. This amendment requires the state treasurer to report a divestment made pursuant to this bill as amended to the council on pensions.
ON MARCH 28, 2022, THE HOUSE ADOPTED AMENDMENT #1 AND PASSED HOUSE BILL 2743, AS AMENDED. AMENDMENT #1 rewrites this bill to authorize the investment committee for the TCRS board of trustees to cause the retirement system to divest, as expeditiously as possible, from an investment the system has with an entity found to be doing business with or supporting a country sanctioned by the office of foreign assets control. Any such divestment must be made in a manner consistent with applicable provisions of the Uniform Prudent Investor Act, and the applicable portions of the board of trustees' investment policy relative to asset allocations and investment strategy. This amendment requires the state treasurer to report a divestment made pursuant to this bill as amended to the council on pensions.
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