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PAG LIN
1 1 Section 1. Section 97B.8, unnumbered paragraph 2, Code
1 2 1997, is amended to read as follows:
1 3 The board consists of nine members. Six of the members
1 4 shall be appointed by the governor. One member shall be an
1 5 executive of a domestic life insurance company, one an
1 6 executive of a state or national bank operating within the
1 7 state of Iowa, one an executive of an industrial corporation
1 8 located within the state of Iowa, and three shall be members
1 9 of the system, one of whom is an active member who is an
1 10 employee of a school district, area education agency, or
1 11 merged area, one of whom is an active member who is not an
1 12 employee of a school district, area education agency, or
1 13 merged area, and one of whom is a retired member of the
1 14 system. Of the members appointed by the governor, at least
1 15 two shall have investment experience. The president of the
1 16 senate, after consultation with the majority leader and the
1 17 minority leader of the senate, shall appoint one member from
1 18 the membership of the senate and the speaker of the house of
1 19 representatives shall appoint one member from the membership
1 20 of the house. The two members appointed by the president of
1 21 the senate, after consultation with the majority leader and
1 22 the minority leader of the senate, and the speaker of the
1 23 house of representatives and the two active members of the
1 24 system appointed by the governor are ex officio members of the
1 25 board. The director of the department of personnel is an ex
1 26 officio, nonvoting member of the board. Five voting members
1 27 of the board shall constitute a quorum.
1 28 EXPLANATION
1 29 This bill provides that of the six persons appointed by the
1 30 governor to be members of the IPERS investment board, at least
1 31 two shall have investment experience.
1 32 LSB 2692SC 77
1 33 ec/sc/14
Text: SSB00210 Text: SSB00212 Text: SSB00200 - SSB00299 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
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