Governor Nathan Deal signed House Bill 71, sponsored by Rep. Lynne Riley (R-Johns Creek), which amends current law to allow the Georgia Municipal Employee Benefits System retirement fund to increase its investment allocation in real estate from 5 percent to 10 percent.
Providing for an increased investment in real estate allows the fund to create a more diversified and stable real estate portfolio for defined benefit retirement plans, according to a press release from Georgia Municipal Association.
The legislation, requested by the GMEBS Board of Trustees, which includes Calhoun Mayor Jimmy...
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AARON MANN
Calhoun Times