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11/14/2019 02:46 PM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20190&cosponId=28155
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House of Representatives
Session of 2019 - 2020 Regular Session

MEMORANDUM

Posted: February 1, 2019 12:12 PM
From: Representative Aaron D. Kaufer
To: All House members
Subject: Prudent Person Investment Standard
 
In the near future, I plan to reintroduce legislation to extend the authority of the State Treasurer to invest monies in the State Treasury according to the prudent investor standard.

Under this standard, the State Treasurer is required to act as a fiduciary with the care, skill, prudence, and diligence that a prudent person would use.

This investment standard was first applied to the State Treasurer in 2008, and its expiration has been extended periodically several times since. It is currently scheduled to expire in 2019, and this legislation would extend that date to 2021.

Please join me in cosponsoring this important legislation.



Introduced as HB628