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 bill outlines specific requirements, limitations, and definitions regarding such investments, including that the total of bitcoin investments shall not exceed 10% of the total investment assets of the fund. Additionally, it specifies that the board must not invest in bitcoin until the total value of such investments is less than 10% of the fund's total investment assets, and it allows for exceptions if market forces cause the value to exceed this limit.

The bill also includes various provisions related to the management and investment of the retirement fund, such as the responsibilities of the board in managing the fund solely in the interests of its members and beneficiaries. It emphasizes the need for prudent investment practices, including diversification to minimize risks, and establishes criteria for evaluating alternative investments. The existing section of K.S.A. 2024 Supp. 74-4921 is repealed, and the new provisions will take effect upon publication in the statute book.

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