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The rule that the public safety pension board's system and plans may not own more than 5% of the voting stock of any one corporation now applies only to publicly traded corporations.
Official title: PSPRS; investments
- September 12, 2026
What changes
BeforeThe system and other plans the board administers could not own more than 5% of the voting stock of any one corporation, except membership interests in limited liability companies.
NowThe 5% voting stock limit applies only to publicly traded corporations. The exception for membership interests in limited liability companies stays.
Who it affects
- Board of trustees of the Public Safety Personnel Retirement System
- Retirement plans the board administers, including the elected officials' and corrections officer retirement plans
What you need to do
Nothing.
What the law doesn't answer
- Whether any other limit applies to how much voting stock the system may own in a corporation that is not publicly traded
- Why the change was made
- Whether the board currently holds or plans to buy more than 5% of the voting stock in any private corporation
This summary describes the law as enacted. Later laws, court rulings or referendum petitions can change the picture. Check the official text for the current wording.