Establishes investment guidelines for the Massachusetts Pension Reserve Investment Management (PRIM).
The bill amends Chapter 32 of the General Laws to set investment guidelines for the Massachusetts Pension Reserve Investment Management (PRIM). It requires the Chief Investment Officer (CIO) or external managers to ensure developers and operators of enterprises financed by PRIM make good faith efforts to secure agreements with bona fide labor organizations. The CIO must evaluate external managers based on compliance with laws, investment risks, and labor dispute risks. The CIO cannot approve investments that could eliminate public sector jobs or pose reputational risks.
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- Core Provisions
- Implementation
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- Legal Framework
- Critical Issues
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