SB376 Alabama 2016 Session

Summary

Primary Sponsor

Paul Bussman

Republican

Session

Regular Session 2016

Title

Retirement Systems of Alabama, annual report and actuarial report of Bds. of Control of ERS and TRS, additional information required, adoption of investment reporting standards required, Secs. 16-25-19, 36-27-23 am;d.

Summary

SB376 would require the Teachers’ Retirement System and Employees’ Retirement System boards to include specific information in their annual and actuarial reports and to adopt standardized investment reporting.

What This Bill Does

If enacted, the boards must include detailed investment data in both annual and actuarial reports, including gross and net investment performance, across multiple time horizons and by asset class. The bill also requires the boards to adopt formal investment reporting standards and to publicly disclose investment fees and the results of private placements and real estate valuations.

Who It Affects

• Boards of Control for the Teachers’ Retirement System and the Employees’ Retirement System, who must include the specified reporting items and adopt investment reporting standards.
• Stakeholders such as active/retired members, state employees, retirees, and taxpayers, who will have access to more detailed and transparent investment performance and fee information.

Key Provisions

• Amend sections 16-25-19 and 36-27-23 to require specified information in annual reports and actuarial valuations for the Teachers’ and Employees’ Retirement Systems, respectively.
• Boards of Control must adopt investment reporting standards.
• Annual report must show investment performance gross of fees and net of fees.
• Investment performance must be reported over 1, 3, 5, 10, and 20 year horizons, and by asset class (public equity, fixed income, private placements, private equity, real estate).
• Disclose all investment fee expenses (management, carried interest, performance fees, and other fees) and publicly disclose private placement and real estate valuation and return results.
• Effective date: this act becomes effective October 1, 2016.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Retirement Systems