100-A:14-b Independent Investment Committee. –
There is hereby established the independent investment committee.
I. The independent investment committee shall consist of not more than 5 voting members, 3 of whom shall be persons who are not members of the board of trustees appointed by the governor with the consent of the council, and up to 2 of whom shall be members of the board of trustees appointed by the chairperson of the board of trustees. There shall also be one nonvoting member appointed by the governor with the consent of the council who shall be an active member in the retirement system chosen from a list submitted upon a vacancy of up to 3 persons nominated by each of the following organizations: the New Hampshire State Employees' Association, the New Hampshire Education Association, the New Hampshire AFL-CIO, the New Hampshire Police Association, and the Professional Fire Fighters of New Hampshire. Each independent investment committee member shall serve for a term of 3 years.
II. Each member of the independent investment committee shall have substantial experience in the field of institutional investment or finance, other than their experience as trustees of the New Hampshire retirement system, taking into account factors such as educational background, business experience, and professional licensure and designations.
III. As provided in RSA 100-A:15, the independent investment committee shall recommend an investment policy and investment consultants to the full board for approval. The independent investment committee shall review investment performance, choose fund managers, and make investments and deposits on behalf of the board.
Source. 2008, 300:17, eff. Jan. 1, 2009. 2017, 151:1, eff. Aug. 15, 2017. 2019, 61:1, eff. Aug. 4, 2019.