Michigan SB0979 amends the investment authority for retirement systems, detailing fiduciary duties and reporting requirements.
Michigan SB0979 amends the investment authority for retirement systems, detailing fiduciary duties and reporting requirements. It mandates that investment fiduciaries act in the best interest of participants and beneficiaries, prohibiting self-dealing and certain transactions. Fiduciaries must consider factors like risk, return, and the system's objectives when making investments. The bill also outlines specific prohibitions, such as investing in debt instruments issued by state sponsors of terror.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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