SB147: Modify Board Management Public Employees' Retirement Association

Legislative Summary

Concerning modifications to the management of the public employees' retirement association by the board of trustees, and, in connection therewith, defining the board as a local public body for purposes of the open meetings law, establishing term limits for members of the board, clarifying that the board must conduct its meetings according to the open meetings law as a local public body, requiring the board to post certain meeting-related and financial information of the association on the association's website, and clarifying the authority of the board to manage and administer the association.