Georgia legislation · 2025-2026 Regular Session
Georgia HB78: Employees' Retirement System of Georgia; total percentage of funds invested in alternative investments; raise limit
Status: Signed into law, May 1, 2025
A BILL to be entitled an Act to amend Article 7 of Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the "Public Retirement Systems Investment Authority Law," so as to raise the limit for the total percentage of funds that the Employees' Retirement System of Georgia may invest in alternative investments; to provide for related matters; to repeal conflicting laws; and for other purposes.
What the bill says
From the introduced text:
DOAA Greg S. Griffin State Auditor Georgia Department of Audits & Accounts January 8, 2025 The Honorable Lehman Franklin State Representative Coverdell Legislative Office Building, Room 501-F Atlanta, GA 30334 SUBJECT: State Auditor's Certification House Bill (LC 56 0227) Dear Representative Franklin: This bill would amend provisions relating to the Public Retirement Systems Investment Authority Law. Current law authorizes most eligible large retirement systems to invest up to 10 percent of their assets in alternative investments. However, the Employees' Retirement System and the Teachers Retirement System are limited to a five percent investment in alternative investments. If this legislation is enacted, the limitation currently placed on the Employees' Retirement System would be removed and the System would be authorized to invest up to 10 percent of their assets in alternative investments. This is to certify that this bill is a nonfiscal retirement bill as defined in the Public Retirement Systems Standards Law. Respectfully, Greg S. Griffin State Auditor GSG/cs 270 Washington Street, SW Suite 4-101 Atlanta, Georgia 30334 Phone 404.656 2180
Sponsors
- Ricky Williams (R, 25) · primary sponsor
- Lehman Franklin (R, 160) · primary sponsor
- John Carson (R, 46)
- Gary Richardson (R, 125)
- Bill Yearta (R)
- Mike Cameron (R, 1)
Latest actions
- : Effective Date
- : Act 63
- : House Date Signed by Governor
- : House Sent to Governor
- : Senate Passed/Adopted
- : Senate Third Read
- : Senate Taken from Table
- : Senate Tabled
- : Senate Read Second Time
- : Senate Committee Favorably Reported
Votes
- Senate Vote #427 (April 2, 2025): 35 yea, 18 nay, passed
- House Vote #72 (February 24, 2025): 161 yea, 9 nay, passed
Common questions
- What is HB78?
- HB78 is a bill in the Georgia Legislature (2025-2026 Regular Session): Employees' Retirement System of Georgia; total percentage of funds invested in alternative investments; raise limit.
- What does HB78 do?
- A BILL to be entitled an Act to amend Article 7 of Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the "Public Retirement Systems Investment Authority Law," so as to raise the limit for the total percentage of funds that the Employees' Retirement System of Georgia may invest in alternative investments; to provide for related matters; to repeal conflicting laws; and for other purposes.
- What is the status of HB78?
- Signed into law as of May 1, 2025. Latest action: Effective Date (July 1, 2025).
- Who sponsored HB78?
- Ricky Williams (R, 25), with 5 co-sponsors.
- Where is the official record for HB78?
- On the Georgia Legislature website: https://www.legis.ga.gov/legislation/69410
Source: official Georgia record. Tracked by Delilah, AI for legislation across all 50 states and Congress.