Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Senate committee approves bill to raise ERS cap on alternative investments from 5% to 10%
Summary
A Georgia Senate committee voted unanimously to advance a bill that would double the Employee Retirement System's allowable allocation to alternative investments from 5% to 10%, with presenters saying the strategy has outperformed traditional holdings since 2013.
Senator Albers, speaking to the Senate retirement committee, presented Senate Bill 23 to increase the Employee Retirement System's (ERS) cap on alternative investments from 5% to 10% and the committee voted to pass the measure by voice vote.
The bill's sponsor said the change would allow ERS to expand allocations that currently include privately managed real assets and other alternatives. "Today, they are allowed to, take up to 5% of the money they manage, and they can use that, in alternative investments. This just takes that to 10%," the sponsor told the committee.
Supporters cited a long-run performance advantage from the systems' use of alternatives. A representative…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
