- Collection:
- Georgia Government Publications
- Serial:
- Press release.
- Title:
- Press release [Sept. 3, 2002]
- Creator:
- Georgia. General Assembly. House. Public Information Office
- Contributor to Resource:
- Georgia. General Assembly. House. Public Information Office
- Publisher:
- Atlanta, Ga. : Georgia. General Assembly. House. Public Information Office
- Date of Original:
- 2002-09-03
- Subject:
- Georgia
- Location:
- United States, Georgia, 32.75042, -83.50018
- Medium:
- publications (documents)
- Type:
- Text
- Format:
- application/pdf
- Description:
- Open access; Unrestricted online access star GAGAL
July 29, 2002B; title from Georgia Government Publications citation, viewed September 19, 2007. - External Identifiers:
- Call Number GA L412 .P1 P7 2002/9-3
- Metadata URL:
- https://dlg.galileo.usg.edu/id:dlg_ggpd_i-ga-bl412-b-pp1-bp7-b2002-s9-h3-belec-p-btext
- Digital Object URL:
- https://dlg.galileo.usg.edu/do:dlg_ggpd_i-ga-bl412-b-pp1-bp7-b2002-s9-h3-belec-p-btext
- Language:
- eng
- Holding Institution:
- University of Georgia. Map and Government Information Library
- Rights:
-
9-1688-4745
Georgia House of Representatives Public Information Office
Room 131, State Capitol 30334 404-656-5082 1-800-282-5800
September 3, 2002
MCBEE NAMED TO PENSION PANEL
Lawmakers will take a closer look at broadening investment options of state pension funds under legislation passed by both the House and Senate during the most recent session of the General Assembly.
State Rep. Louise McBee, D-Athens, will serve on the joint study committee which will review the possibility of investing pension dollars in private equities, a portfolio option open to most other state plans across the country but currently prohibited under Georgia law.
The aim of the panel is to consider equity investment as a means of improving individual retirement benefits while at the same time stimulating economic development in Georgia through increased capitalization.
Nationally, 80 percent of state retirement plans allow private equity investment and proponents argue that Georgia needs the same investment tools as these other states.
The legislation creating the Joint Study Committee on Economic Development Through the Investment of State Pension Funds into Private Equities notes that the proposed broadened diversification would improve pension fund performance.
Over the last 30 years private equity returns have exceeded traditional annual equity returns by 4 to 6 percent per year.
Both the boards of trustees of the Teachers Retirement System and the Employees Retirement System have voted unanimously to support allowing investment in private equities, but lawmakers remains cautious and want to thoroughly review the proposal before endorsing it.
The committee will make its recommendations to the whole legislature when the General Assembly reconvenes in January.
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For further information please contact Rep. McBee at (404) 656-0213.