SR 399 - S. Fulton Municipal Assoc. - retire. plan fund investment

First Reader Summary

A resolution recognizing and acknowledging the position of the South Fulton Municipal Association regarding the investment of retirement plan funds.

Page Numbers - 1

SR 399                                             LC 19 3548 
 
 
 
 
 
 
                             A RESOLUTION 
 
  1- 1  Recognizing and acknowledging the position of the South 
  1- 2  Fulton Municipal Association regarding the investment of 
  1- 3  retirement plan funds; and for other purposes. 
 
  1- 4  WHEREAS, the membership of the South Fulton Municipal 
  1- 5  Association includes municipalities which sponsor retirement 
  1- 6  plans for their employees; and 
 
  1- 7  WHEREAS, state law allows and provides for the investment of 
  1- 8  retirement plan funds by the municipalities through boards 
  1- 9  of trustees established under the terms of the several 
  1-10  plans; and 
 
  1-11  WHEREAS, Georgia law now restricts the equity investment of 
  1-12  certain public plans with assets of less than $50 million to 
  1-13  no more than 50 percent of plan assets; and 
 
  1-14  WHEREAS, such restriction applies to the plans of the South 
  1-15  Fulton Municipal Association's members. 
 
  1-16  NOW, THEREFORE, BE IT RESOLVED BY THE SENATE that this body 
  1-17  recognizes and acknowledges the position of the South Fulton 
  1-18  Municipal Association regarding the investment of retirement 
  1-19  plan funds by local retirement systems. 
 
  1-20  BE IT FURTHER RESOLVED that the Secretary of the Senate is 
  1-21  authorized and directed to transmit an appropriate copy of 
  1-22  this resolution to Mr. Johnny Robinson, President of the 
  1-23  South Fulton Municipal Association. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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