Missouri legislation · 2025 Regular Session
Missouri HB147: Relating to retirement
Status: Signed into law, July 14, 2025
What the bill says
An act authorized under this section. 10. (1) Notwithstanding any provision of law to the contrary, the provisions of this section do not apply to investments in private market funds. (2) Notwithstanding any provision of law to the contrary, the provisions of this section do not apply to indirect holdings in actively managed investment funds. (3) If a manager or investment fiduciary creates a similar actively managed investment fund without the restricted entities, the board shall replace all applicable investments with the investments in the similar actively managed investment fund within a p.
From the enrolled text:
an act authorized under this section. 10. (1) Notwithstanding any provision of law to the contrary, the provisions of this section do not apply to investments in private market funds. (2) Notwithstanding any provision of law to the contrary, the provisions of this section do not apply to indirect holdings in actively managed investment funds. (3) If a manager or investment fiduciary creates a similar actively managed investment fund without the restricted entities, the board shall replace all applicable investments with the investments in the similar actively managed investment fund within a period consistent with prudent investing standards. 169.450. 1. The general administration and responsibility for the proper operation of the retirement system and for making effective the provisions of sections 169.410 to 169.540 are hereby vested in a board of trustees of [eleven] thirteen persons, as provided, however, that their terms shall be fixed so the terms of one of the trustees so appointed shall expire each year. The members of such board of trustees appointed by the board of education may be members of the board of education or other individuals deemed qualified to hold such positions by the board of education; (2) Fourtrusteestobeelectedfortermsoffouryearsbyandfromtheactivemembers of the retirement system who shall hold office as trustees only while active members; provided, however, that their terms shall be fixed so that …