View Amendment Current Amendment: 394C020.DKA.SA17.docx to Bill 394     Senator CLIMER proposed the following amendment (SA\394C020.DKA.SA17):
    Amend the bill, as and if amended, by adding an appropriately numbered SECTION to read:

/     SECTION     _.     Section 9-16-50(A) of the 1976 Code, as last amended by Act 153 of 2005, is further amended to read:

    "(A)     In investing and managing assets of a retirement system pursuant to Section 9-16-40, the commission:
        (1)     shall consider among other circumstances:
            (a)     general economic conditions;
            (b)     the possible effect of inflation or deflation;
            (c)     the role that each investment or course of action plays within the overall portfolio of the retirement system;
            (d)     needs for liquidity, regularity of income, and preservation or appreciation of capital; and
            (e)     the adequacy of funding for the plan based on reasonable actuarial factors;
        (2)     shall diversify the investments of the retirement system unless the commission reasonably determines that, because of special circumstances, it is clearly prudent not to do so;
        (3)     shall make a reasonable effort to verify facts relevant to the investment and management of assets of a retirement system; and
        (4)     may invest in any kind of property or type of investment consistent with this chapter and Section 9-1-1310;
        (5)     may consider benefits created by an investment in addition to investment return only if the commission determines that the investment providing these collateral benefits would be prudent even without the collateral benefits."     /
    Renumber sections to conform.
    Amend title to conform.