New Hampshire HB1585 mandates that the state retirement system's investments and proxy votes be based solely on financial factors.
New Hampshire HB1585 amends the state's retirement system laws to ensure that all investments and proxy votes are made based solely on financial factors. The bill requires fiduciaries to act in the financial interest of participants and beneficiaries, prohibiting them from considering environmental, social, political, or ideological factors. It mandates that investment managers and fiduciaries commit in writing to follow guidelines that match the board of trustees' obligation to act solely upon financial factors.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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