Pennsylvania HB1322 mandates training for certain State fiduciaries, including trustees and board members of public pension systems.

Pennsylvania HB1322 amends Title 20 of the Pennsylvania Consolidated Statutes to establish training requirements for State fiduciaries. These fiduciaries, who manage State funds or public pension systems, must complete two hours of initial training within one year of assuming their role and one hour annually thereafter. The training covers fiduciary definitions, conflicts of interest, the prudent expert standard, and self-dealing.

Pennsylvania HB1322 mandates training for certain State fiduciaries, including trustees and board members of public pension systems.

Pennsylvania HB1322 amends Title 20 of the Pennsylvania Consolidated Statutes to establish training requirements for State fiduciaries. These fiduciaries, who manage State funds or public pension systems, must complete two hours of initial training within one year of assuming their role and one hour annually thereafter. The training covers fiduciary definitions, conflicts of interest, the prudent expert standard, and self-dealing.