LRB-3984/2
RAC:skg:jlb
1995 - 1996 LEGISLATURE
November 1, 1995 - Introduced by Senators Adelman, Burke, Clausing and
Wineke, cosponsored by Representatives
R. Potter, R. Young, Black,
Krusick, Carpenter, Notestein, Bell, Bock, Wilder and Cullen. Referred to
Committee on Education and Financial Institutions.
SB394,1,4
1An Act to renumber and amend 40.07 (3); and
to create 13.94 (9), 25.17 (14r)
2and 40.07 (3) (b) of the statutes;
relating to: preparation and distribution of
3a report regarding the administrative expenses and investment performance
4of the investment board.
Analysis by the Legislative Reference Bureau
This bill requires the investment board annually to prepare a report that
compares the administrative expenses and investment performance of the
investment board to those of a peer group of public and private entities identified by
the legislative audit bureau. The investment board is required to submit a copy of
the report to each participant in the Wisconsin retirement system.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB394, s. 1
5Section
1. 13.94 (9) of the statutes is created to read:
SB394,1,96
13.94
(9) Selection of investment board peer groups. Annually, the
7legislative audit bureau shall select for the investment board a peer group of public
8and private entities that invest similar-sized funds as the investment board for the
9purposes of s. 25.17 (14r).
SB394, s. 2
1Section
2. 25.17 (14r) of the statutes is created to read:
SB394,2,62
25.17
(14r) Annually, prepare a report that compares the administrative
3expenses and investment performance of the investment board to those of a peer
4group of public and private entities identified by the legislative audit bureau under
5s. 13.94 (9). The board shall submit a copy of the report to each participant in the
6Wisconsin retirement system.
SB394, s. 3
7Section
3. 40.07 (3) of the statutes is renumbered 40.07 (3) (a) and amended
8to read:
SB394,2,119
40.07
(3) (a)
The Subject to par. (b), the department shall not furnish lists of
10participants, annuitants or beneficiaries to any person or organization except as
11required for the proper administration of the department.
SB394, s. 4
12Section
4. 40.07 (3) (b) of the statutes is created to read:
SB394,2,1513
40.07
(3) (b) The department shall furnish a list of the names and addresses
14of all participants to the investment board for the purpose of submitting the report
15prepared by the investment board to each participant under s. 25.17 (14r).
