PRINTER'S NO. 3266
No. 2458 Session of 1982
INTRODUCED BY RICHARDSON, IRVIS, BARBER, DEAL, EVANS,
J. D. WILLIAMS, WIGGINS, MANDERINO AND HARPER, APRIL 28, 1982
REFERRED TO COMMITTEE ON STATE GOVERNMENT, APRIL 28, 1982
AN ACT
1 Amending Title 71 (State Government) of the Pennsylvania
2 Consolidated Statutes, creating the State Employees'
3 Retirement Investment Advisory Committee to assist the State
4 Employees' Retirement Board.
5 The General Assembly of the Commonwealth of Pennsylvania
6 hereby enacts as follows:
7 Section 1. Title 71, act of November 25, 1970 (P.L.707,
8 No.230), known as the Pennsylvania Consolidated Statutes, is
9 amended by adding a section to read:
10 § 5901.1. State Employees' Retirement Investment Advisory
11 Committee.
12 (a) Establishment and composition.--There is hereby
13 established the State Employees' Retirement Investment Advisory
14 Committee which shall consist of five members of the system
15 appointed by the Governor.
16 (b) Terms.--Terms of office of committee members shall be
17 five years. Initial appointments to the committee shall be as
18 follows:
19 (1) Two members for terms of two years.
1 (2) One member for a term of three years.
2 (3) One member for a term of four years.
3 (4) One member for a term of five years.
4 (b) Chairman.--Committee members shall annually elect one of
5 their number to be chairman.
6 (d) Expenses.--Committee members shall receive no
7 compensation but shall be reimbursed for all reasonable and
8 necessary expenses.
9 (e) Duties.--The committee shall advise the board regarding
10 investment policies in relation to the needs and desires of
11 active members and annuitants.
12 Section 2. This act shall take effect in 60 days.
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