New York A10882 prohibits investment managers in the state and local police and fire retirement system.

New York A10882 amends the retirement and social security law to prohibit the New York state and local police and fire retirement system from hiring investment managers. The bill defines an investment manager as any person or entity, excluding an employee of the comptroller, engaged to assist in obtaining investments. The prohibition includes not entering into new contracts or renewing existing ones with investment managers. The changes will take effect on January 1 of the year following the bill's enactment.

New York A10882 prohibits investment managers in the state and local police and fire retirement system.

New York A10882 amends the retirement and social security law to prohibit the New York state and local police and fire retirement system from hiring investment managers. The bill defines an investment manager as any person or entity, excluding an employee of the comptroller, engaged to assist in obtaining investments. The prohibition includes not entering into new contracts or renewing existing ones with investment managers. The changes will take effect on January 1 of the year following the bill's enactment.