This bill amends K.S.A. 2024 Supp. 75-2263 to enhance the management and investment of state moneys certified by the state treasurer as equivalent to the aggregate net amount received for unclaimed property. The board of trustees of the Kansas public employees retirement system is tasked with the responsibility of managing these funds, ensuring that investments prioritize the interests of the state general fund. The bill introduces new investment standards, allowing the board to invest in bonds and similar obligations of certain foreign governments, provided they meet specific credit ratings and do not involve countries identified as state sponsors of terrorism or authoritarian regimes.

Additionally, the bill outlines the board's authority to contract professional investment advisors and mandates that these advisors obtain commercial insurance for errors and omissions coverage. It also requires the board to formulate and adopt written policies for investment strategies, including asset allocation and risk evaluation criteria. All income generated from these investments will be deposited into the state treasury for the benefit of the state general fund. The existing section of K.S.A. 2024 Supp. 75-2263 is repealed, and the new provisions will take effect upon publication in the statute book.

Statutes affected:
As introduced: 75-2263, 75-4221a