Establishes the reputational insight and oversight transparency act; restricts investments by certain firms that receive investments from any public retirement system or pension funds.
Establishes provisions relating to the divestment of certain restricted entities and restricted investment products in which a public employee retirement system holds an investment
Enacts the "New York state agency BIPOC asset management and financial institution strategy act" to ensure the promotion of equity, diversity, and inclusion within the state pension system and the New York city pension system's investments by mandating a minimum allocation of assets to BIPOC asset managers, BIPOC financial institutions, and BIPOC financial or professional service firms; addresses disparities in investment opportunities and fosters economic growth within BIPOC communities, aligning with best practices in investment management and bolstering the financial well-being of New York City and state and residents thereof (Part A); relates to fair investment practices by investment advisers within the state of New York (Part B).
Enacts the "New York state agency BIPOC asset management and financial institution strategy act" to ensure the promotion of equity, diversity, and inclusion within the state pension system and the New York city pension system's investments by mandating a minimum allocation of assets to BIPOC asset managers, BIPOC financial institutions, and BIPOC financial or professional service firms; addresses disparities in investment opportunities and fosters economic growth within BIPOC communities, aligning with best practices in investment management and bolstering the financial well-being of New York City and state and residents thereof (Part A); relates to fair investment practices by investment advisers within the state of New York (Part B).
Modifies provisions relating to investments of public employee retirement and pension systems, requiring divestment of fund holdings in certain Chinese entities or products
Allows members of the New York city fire department pension fund to obtain service credit for retirement eligibility and retirement allowance from any of the public retirement systems of New York state.
Prohibits the use of investment managers in the New York state and local police and fire retirement system; defines who qualifies as an investment manager.