Arizona HB2143 amends the Public Safety Personnel Retirement System (PSPRS) to update investment policies and board duties.

Arizona HB2143 amends the Public Safety Personnel Retirement System (PSPRS) by updating the board's investment policies and duties. The board is authorized to invest in various securities, including mutual funds and exchange-traded funds, and may delegate investment management to third parties. The bill outlines specific investment restrictions, such as limiting foreign securities to 20% of total assets and corporate stock to 5% from any one corporation. The board must also establish procedures for contracts with actuaries, auditors, and legal counsel, and ensure safeguarding of securities.

Arizona HB2143 amends the Public Safety Personnel Retirement System (PSPRS) to update investment policies and board duties.

Arizona HB2143 amends the Public Safety Personnel Retirement System (PSPRS) by updating the board's investment policies and duties. The board is authorized to invest in various securities, including mutual funds and exchange-traded funds, and may delegate investment management to third parties. The bill outlines specific investment restrictions, such as limiting foreign securities to 20% of total assets and corporate stock to 5% from any one corporation. The board must also establish procedures for contracts with actuaries, auditors, and legal counsel, and ensure safeguarding of securities.