4/15/09 N.Y. St. Reg. AAC-15-09-00002-P
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:
Proposed Action:
This is a consensus rule making to repeal Part 339 of Title 2 NYCRR.
Statutory authority:
State Finance Law, section 8
Subject:
Repeal of Part 339 of Title 2 of the NYCRR.
Purpose:
To repeal Part 339 of Title 2 of the NYCRR relating to the Committee on Investor Responsibility of the NYSLRS.
Text of proposed rule:
Repeal of Part 339, Title 2, NYCRR.
Text of proposed rule and any required statements and analyses may be obtained from:
Jamie Elacqua - Legislative Counsel, Office of the State Comptroller, 110 State Street, Albany, New York 12236, (518) 473-4146, email:
JElacqua@osc.state.ny.usData, views or arguments may be submitted to:
Same as above.
Public comment will be received until:
45 days after publication of this notice.
Consensus Rule Making Determination
The proposed regulatory activity repeals Part 339 of Title 2 of the NYCRR. Such Part contains regulations that established a committee on Investor Responsibility of the New York State and Local Retirement Systems. The proposed repeal of this part is based upon the recommendation outlined in the Pension Task Force report of March 2009. The Task Force performed a comprehensive, independent review and assessment of the operations, policies and practices of the Common Retirement Fund and recommended dissolution of the committee in order to provide a solid foundation for the continued operation of the Common Retirement Fund. The Task Force recommended the committee be disbanded and that Office of the State Comptroller staff, together with consultants and other experts, continue to advise the Comptroller on issues relating to corporate governance.
