Dear Senator or Representative,

Please help bring the Pension Investment Integrity Act to Arkansas's 2027 legislative session. Pension members deserve to know why their retirement money is invested and how those decisions serve them.

For covered investments in non-tradable sovereign debt, require a written explanation of repayment risk, reasonable alternatives, access to the money and the financial case for the investment. That work should happen before the system commits to the investment, with publication within 30 calendar days of that binding commitment. The same standards should apply regardless of the issuer.

Boards should set the rules and oversee managers, with a record for each covered purchase. Pension systems sharing an account they control should be able to share research while showing each system's share and approval. For outside funds they do not control, systems should explain why they are committing money and report known covered investments. The pension system should publish the record.

September records show $25 million in APERS custody positions and a $9.9 million ATRS bond purchase within a $50 million funded account. These figures come from different record dates. Members should be able to read the financial reasoning behind these decisions.

Please request a briefing and consider sponsoring the proposal.

Sincerely,
[Your name and city]