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 regarding such investments, including that the total of bitcoin investments shall not exceed 10% of the total investment assets of the fund. Additionally, it stipulates 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 provides a framework for managing these investments prudently.

The bill also repeals the existing section K.S.A. 2024 Supp. 74-4921, which previously governed the investment policies of the retirement fund. The new provisions emphasize the board's responsibility to manage the fund in the best interests of its members and beneficiaries, ensuring that investments are made with due diligence and in accordance with established policies. Overall, the bill aims to modernize the investment strategy of the Kansas public employees retirement system by allowing for the inclusion of bitcoin as a viable investment option.

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