HB 3250
Prohibits the Oregon Investment Council, the State Treasurer and managers from considering nonfinancial factors when directing or managing the investment of the Public Employees Retirement Fund.
Jurisdiction
Oregon
Session
2025 Regular Session
Committee
Emergency Management, General Government, and Veterans
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill restricts how investments for the Public Employees Retirement Fund are managed. It prohibits the Oregon Investment Council, the State Treasurer, and their managers from considering factors beyond financial risk and return when making investment decisions. Specifically, it limits the consideration of ‘policy commitments’ that might be driven by social, political, or ideological interests. The bill aims to ensure investments are solely based on financial performance.
Key provisions
- Defines ‘fiduciary’ as the Oregon Investment Council, the State Treasurer, and investment managers.
- Defines ‘nonfinancial factor’ as any factor not related to financial risk or return.
- Prohibits fiduciaries from considering ‘policy commitments’ when managing investments.
- Specifically targets investments within the Public Employees Retirement Fund (PERS).
- Creates a rebuttable presumption that a fiduciary has considered a nonfinancial factor if they’ve made a policy commitment after the law’s effective date.
- States that these requirements are in addition to existing state regulations.
Who is affected
- Oregon Investment Council
- State Treasurer
- Public Employees Retirement Fund members
- Investors in the Public Employees Retirement Fund
- Pension beneficiaries
Notable changes
- Limits investment decisions to financial risk and return.
Sponsors
Official sponsors from legislative records.
Primary sponsor
E. Werner Reschke
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