HB2862 SFA Nelson #1 3-10

Curia  7824

Senator Nelson moved to amend the bill on page 2, section 11a, line 14, by striking out all of subdivision (5) and inserting in lieu thereof a new subdivision (5), to read as follows:

(5)  “Pecuniary factor” means a factor that the board or a fiduciary prudently determines has an effect on the financial risk or financial return to beneficiaries based on appropriate investment horizons consistent with an investment pool’s objectives and funding policy.  Environmental, social, corporate governance, or other similarly oriented considerations are pecuniary factors only if the board or a fiduciary prudently determines that such a consideration affects the financial risk or financial return to beneficiaries based on appropriate investment horizons consistent with an investment pool’s objectives and funding policy.  Any factor that does not meet the definition of “pecuniary factor” according to this subdivision is a “non pecuniary factor”.

Adopted

Rejected