Tuesday, June 10, 2008

2008 Legislative Update

Bill Vetoed

HB 231 by Rep. Doerge, which would have exempted the Firefighters Retirement System from the obligation to adopt and implement a constructive engagement strategy to avoid ownership of securities in certain prohibited nations, namely Iran, North Korea, Sudan and Syria, as required of all public retirement systems by R.S. 11:314. –has been vetoed by the Governor.

In his veto message the Governor said,” While I recognize the challenges created by R.S.11:314, I strongly support the statute’s important purpose of ensuring that public retirement system funds are not being used to finance harm to the citizens of this country.”

No comments: