HB 457: New Hampshire Requires Treasurer to Invest Solely Based on Fiduciary Duty to Maximize Benefits to Participants
Summary
HB 457 was enacted in June 2023 and requires state trust fund investments and the management of those investments by the state treasurer to be governed by the fiduciary duty to maximize benefits for the state or beneficiary. It specifies the duty to make all investment decisions solely in the interest of participants and beneficiaries of the state retirement system and requires the independent investment committee and board of trustees to report quarterly regarding compliance with that duty.
Impacted Sectors
Additional Information
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