The bill proposes the repeal of the annual reporting requirement for investment business recipient disclosures related to firefighter relief associations in Minnesota. Specifically, it seeks to eliminate Minnesota Statutes 2024, section 356A.06, subdivision 5, which mandates that the chief administrative officer of a covered pension plan and the executive director of the State Board of Investment disclose the recipients of investment business and commissions allocated among various financial institutions. This disclosure must be prepared annually and made available for public inspection, as well as filed with the Legislative Commission on Pensions and Retirement.

By removing this requirement, the bill aims to streamline the reporting process for firefighter relief associations and reduce administrative burdens. The repeal is intended to simplify compliance for these organizations while still maintaining oversight of investment activities through other existing regulations.

Statutes affected:
Introduction: 356A.06