Dear Senator or Representative,

I am asking you to help develop and support the Pension Investment Integrity Act proposal for the 2027 session. Pension members deserve a written financial case for covered investments in non-tradable sovereign debt.

Please require credit analysis, a comparison of alternatives, a liquidity explanation and a financial determination before the binding commitment to a covered investment, with public posting within 30 calendar days of that commitment. The requirements should be prospective and issuer-neutral.

Trustees should set policy and oversee managers trading within approved limits. Each covered purchase should have a financial record. Controlled pension pools should be able to share research with plan-specific allocations and findings. Genuinely external funds should receive review at the system's commitment, with ongoing reporting of known covered exposure. The pension system should remain responsible for publication.

September records document APERS's $25 million in positions and ATRS's $9.9 million purchase within a $50 million funded account. These figures have different record dates. Please request a source and drafting briefing, including legal review of manager duties, enforcement, contract transition and costs.

Sincerely,
[Your name and city]