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ARIZONA STATE SENATE
Fifty-Fifth Legislature, First Regular Session
PSPRS; investment reporting
Purpose
Directs the Public Safety Personnel Retirement System (PSPRS) Board of Trustees to include an estimate of alternative investments and carried interest in the PSPRS Comprehensive Annual Financial Report (CAFR).
Background
The PSPRS Board of Trustees (PSPRS Board), within six months following the close of the fiscal year, must transmit a copy of the CAFR to the Governor and the Legislature. The CAFR must contain information on the operation of the PSPRS, the Corrections Officer Retirement Plan (CORP) and the Elected Officials Retirement Plan (EORP), including: 1) a balance sheet and statement of income and expenditures; 2) an actuarial valuation of assets and liabilities; 3) any other statistical and financial data necessary for the proper understanding of the financial condition of PSPRS, CORP and EORP; and 4) an estimate of the aggregate fees paid for private equity investments, including management fees and performance fees (A.R.S. § 38-848).
There is no anticipated fiscal impact to the state General Fund associated with this legislation.
Provisions
1. Requires the PSPRS Board to include an estimate of alternative investments and carried interest in the CAFR.
2. Makes technical changes.
3. Becomes effective on the general effective date.
Prepared by Senate Research
February 8, 2021
MG/gs