I'm happy to report that all seven bills in the ATRS Legislative Package are now law, having been signed by the Governor yesterday. You can read more about these seven bills in the summary on our website.
Earlier this week, the Governor announced her support of several bills related to China, in what she called the "Communist China Defense Legislative Package." The only bill in that package that directly impacts ATRS is HB1352, which I've mentioned in previous updates. This is the bill that would restrict our ability to invest in China.
The Governor's staff has now confirmed to me they will agree to the changes we requested to the bill language. These changes will ensure that the bill does not cause us any significant investment losses. The actual language has not been filed yet, but we will continue to monitor and review any amendments that are filed. If the bill is not changed to protect the interests of ATRS, I will let you know at once.
The Joint Public Retirement Committee will meet again on Tuesday afternoon. I am told that they will consider several bills related to the other state retirement systems, and only one bill related to ATRS, HB1347. As I explained last week, this bill will allow ATRS to pay survivor benefits to a Special Needs Trust set up on behalf of a surviving child or spouse. It will not harm ATRS independence or benefits in any way.
If you have questions about how a bill may impact ATRS, or if you are concerned about something ATRS is proposing, please reach out to me at the email address or phone number below.
Also, if you are receiving this email as a forward and would like to be added to the distribution list, you can subscribe to these legislative updates here.
Mark White
ATRS Executive Director
MarkW@artrs.gov
Office: (501) 621-8853
Cell: (501) 541-2057