SB183: AN ACT relating to the fiduciary duties owed to the state-administered retirement systems.
Legislative Summary
Amend KRS 21.450, 61.650, 78.790, and 161.430 relating to the fiduciary duties owed to the state-administered retirement systems to define "shareholder-sponsored proposal" and "economic analysis"; require a proxy adviser under contract with a state-administered retirement system to conduct and document an economic analysis prior to voting on or recommending a vote on a shareholder-sponsored proposal that is inconsistent with the recommendation of the board of directors of the issuer of shares in order to demonstrate that a vote against management's recommendation is solely in the interest of the retirement plan members and beneficiaries; make technical corrections.
Demographic Impact
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Bill History
Amendments
Senate Committee Substitute
Senate Committee Substitute 1
Senate Committee Substitute
Actuarial Analysis to Senate Committee Substitute 1
