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RSIC CEO: Legislature included commission’s $2 million authorization request but state budget remains in conference
Summary
RSIC CEO Mr. Hitchcock said the commission’s requested $2 million authorization increase and prior provisos were included in budget versions, but the state budget remained in conference; a continuing resolution would let agencies operate at prior‑year authorization if no enacted budget by July 1.
At the June 4 meeting of the Retirement System Investment Commission, Chief Executive Officer Mr. Hitchcock told commissioners that the commission’s request for a $2 million authorization increase and retention of prior provisos was included in the budget versions that have moved forward, but the state budget remained in conference.
"We asked for… a $2 million authorization increase and to retain provisos that we've had previously in the budget," Mr. Hitchcock said, adding that while those items "were adopted in all versions of the budget," the overall budget had not been finalized. He said the General Assembly had passed a continuing resolution allowing state agencies to operate under the previous year's authorization if a completed budget is not adopted by July 1, which is less than RSIC requested.
Mr. Hitchcock also gave personnel and operational updates. He said the commission has a large summer intern class and praised human resources staff Sally and Bobby Cresswell for their work managing the program. He announced that Nathan Abernathy would join RSIC as an attorney taking over from Mitchell Goldsmith and that Abernathy "comes from the Supreme Court." He added that Abernathy "has been drinking from the fire hose for the past couple months," reflecting early onboarding.
Mr. Hitchcock closed his report and invited questions; no further legislative actions or staff directives were taken during the meeting.
