House
File
2110
-
Introduced
HOUSE
FILE
2110
BY
COWNIE
A
BILL
FOR
An
Act
requiring
investment
managers
and
consultants
for
the
1
Iowa
public
employees’
retirement
system
to
be
located
in
2
this
state
and
including
an
applicability
provision.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
5806YH
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87
ec/rn
H.F.
2110
Section
1.
Section
97B.4,
subsection
3,
paragraph
f,
Code
1
2018,
is
amended
to
read
as
follows:
2
f.
Outside
advisors.
The
system
may
execute
contracts
3
with
persons
outside
state
government,
including
investment
4
advisors,
consultants,
and
managers,
in
the
administration
5
of
this
chapter
.
However,
a
contract
with
an
investment
6
manager
or
investment
consultant
shall
not
be
executed
by
the
7
system
pursuant
to
this
paragraph
if
the
investment
manager
or
8
investment
consultant
is
not
located
in
this
state
and
without
9
the
prior
approval
by
the
board
of
the
hiring
of
the
investment
10
manager
or
investment
consultant.
11
Sec.
2.
APPLICABILITY.
This
Act
applies
to
contracts
with
12
an
investment
manager
or
investment
contract
entered
into
on
or
13
after
the
effective
date
of
this
Act.
14
EXPLANATION
15
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
16
the
explanation’s
substance
by
the
members
of
the
general
assembly.
17
This
bill
provides
that
the
Iowa
public
employees’
18
retirement
system
shall
not
enter
into
a
contract
with
an
19
investment
manager
or
investment
consultant
that
is
not
located
20
in
this
state.
The
bill
applies
to
contracts
entered
into
on
21
or
after
the
effective
date
of
the
bill.
22
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