Fiscal Note

HB0286 - Retirement System Divestment

State Impact:
Enactment of this bill may result in ongoing administrative costs of $68,000 beginning in FY 2011 and one-time costs of $489,000 in FY 2012. Annual revenue losses to Utah Retirement System's current portfolio of investments is estimated at $13,000,000. This bill may limit future investments by the Utah Retirement Systems and as a result may affect its ability to maximize returns, which in turn may affect existing unfunded liabilities or future contribution rates.

Individual, Business and/or Local Impact:
Enactment of this bill likely will not result in direct, measurable costs and/or benefits for individuals, businesses, or local governments.