PERA Public Employees' Retirement Association Investments In Renewable Energy Companies

Beginning January 1, 2017, and in each calendar year thereafter, the public employees' retirement association (association) is required to ensure that, of the moneys that are not already invested by the association and that the association will invest during the applicable calendar year, at least one percent of such moneys are invested in renewable energy companies. If the association is unable to invest one percent of such moneys in renewable energy companies in any calendar year, the association is required to explain why it was unable to satisfy the requirement in the comprehensive annual financial report prepared by the association.

(Note: This summary applies to this bill as introduced.)