This bill amends the Kansas public employees retirement system to authorize the board of trustees to invest up to 10% of the Kansas public employees retirement fund in bitcoin exchange-traded products. The legislation outlines specific requirements, limitations, and definitions related to these investments, ensuring that the total bitcoin investments do not exceed the stipulated percentage based on the fund's total market value. Additionally, it provides that the board is not required to liquidate or sell any bitcoin investments if the total value exceeds 10% due to market forces, as long as such actions are in the best interest of the members and beneficiaries.

The bill also includes a repeal of the existing section K.S.A. 2024 Supp. 74-4921, which indicates a significant update to the investment policies of the retirement fund. The new provisions aim to diversify the investment portfolio of the fund while maintaining a focus on the preservation of capital and the provision of benefits to members and beneficiaries. The bill emphasizes prudent investment practices and the necessity for the board to formulate policies and objectives for managing the fund's investments effectively.

Statutes affected:
As introduced: 74-4921, 74-49