Sec. 204. Investment policies and selection of asset managers
90 words·~1 min read·
/bill/118/s/3102/is/section-204·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Board shall develop investment policies under section 201(f)(1) which provide for— prudent investments suitable for accumulating funds for payment of retirement income; and low administrative costs. The Board shall select asset managers to manage the Fund, subject to the following conditions: The Board shall select a number of asset managers necessary to ensure that no asset manager shall be responsible for managing the greater of— $500,000,000,000; or 10 percent of the Fund’s assets. The Board shall limit any contract with an asset manager to a maximum of 5 years.