Honorable Craig Eiland, Chair, House Committee on Pensions & Investments
FROM:
John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:
HB3126 by Eiland (Relating to the regulation of investment advisors in the optional retirement program.), As Introduced
No fiscal implication to the State is anticipated.
The bill would place limitations on the payments of fees to investment advisors for participants of the Optional Retirement Program. Advisors would have to be affiliated with a currently authorized vendor, and institutions of higher education could determine their own policies and procedures that advisors must follow.
Local Government Impact
No fiscal implication to units of local government is anticipated.