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BPIC tells Appropriations it can manage OPEB assets but asks for one staff position if H.567 passes
Summary
BPIC chair Tom Balanca told the Appropriations Committee BPIC's 10-year returns average 8.3%, assets have grown to about $8 billion, and if House bill 567 transfers OPEB investments to BPIC the board requests one additional financial staff position funded from special funds.
Tom Balanca, chair of BPIC, told the House Appropriations Committee on Feb. 5 that BPIC has delivered a 10‑year annualized return of 8.3% and that fund assets have grown from roughly $3 billion to about $8 billion in the past decade. He said BPIC operates with a small investment team—"a staff of 4"—and pays relatively low fees compared with peer state funds.
Balanca told members BPIC is listed in "house bill 5 67 to potentially take over investment of…
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