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Administration April 17, 2012
Ga. Employee Pensions to Make Alternative Investments
April 17, 2012 (PLANSPONSOR.com) – Georgia Gov. Nathan Deal signed
legislation that will allow managers of the state employee’s pension fund to
make alternative investments.
Reported by Tara Cantore
According to the Atlanta Business Chronicle, business groups in Georgia supported the bill to help create more jobs in the state by generating more investment capital.
When the program is put in motion, Georgia will become the final state to authorize alternative investments of employee pension fund assets.
Under the bill, the Employees’ Retirement System of Georgia will not be allowed to invest more than 5% of the Fund’s assets in alternatives at one time. Investments also will be limited to private pools and issuers with at least $100 million in assets, reports the Atlanta Business Chronicle.
The pension fund of Georgia’s retired teachers will not be making alternative investments. Representatives of teacher groups lobbied to have the Teachers Retirement System of Georgia excluded from the measure.