An Act concerning investments of the Massachusetts Pension Reserve Investment Management (PRIM)
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill addresses investment strategies used by the Massachusetts Pension Reserve Investment Management (PRIM). It requires PRIM to conduct a study on its investment practices, specifically focusing on the potential for increased environmental, social, and governance (ESG) considerations in its portfolio. The study will examine how incorporating ESG factors could align with PRIM’s fiduciary duty to maximize returns for the state’s pension fund. Ultimately, the goal is to ensure PRIM’s investments are both financially sound and responsibly managed.
Key provisions
- Requires PRIM to conduct a study of its investment practices.
- The study must specifically analyze the potential for incorporating ESG factors.
- The study should consider PRIM’s fiduciary duty to maximize returns.
- The study will examine how ESG investments align with PRIM’s goals.
Who is affected
- Massachusetts Pension Reserve Investment Management (PRIM)
- Massachusetts State Pension Fund
- Investors in the Massachusetts State Pension Fund
Notable changes
- The bill mandates a formal study of PRIM’s investment approach.
- It introduces the consideration of ESG factors, which may lead to changes in investment strategies.
Bill text
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Sponsors
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2 on record
Primary sponsor
Cosponsor
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