URGENT ALERT! PLEASE MAKE YOUR CONTACTS BY FEB. 25, 2008
WREA Supports Prudent Investor Legislation
date: February 19, 2008
to: WREA Legislative Alert Network
from: Clara Welch, WREA President
Arnie Chandler, WREA Legislative Chair
Jane Elmer, WREA Executive Director
RE: WREA’s Support for Prudent Investor Legislation
Companion Bills: Senate Bill 351 and Assembly Bill 623
ACTION:
1. Please contact your state legislators BY February 25, 2008. It is very important! Because of the immediacy of this request, you may want to make your contacts by phone or email.
2. Report to WREA. Let us know who you contacted. Email WREA wrea@wrea.net, call WREA at 608-831-5115.
To Contact Legislators:
By phone:
Use their direct lines or call the Legislative Hotline:
1-800-362-9472; or from Madison, 608-266-9960
(Contact your legislators to obtain their 800 numbers.)
By email: Senators Sen.(insert last name)@legis.state.wi.us
Representatives Rep.(insert last name)@legis.state.wi.us
By mail:
Senators P.O. Box 7882, Madison, WI 53707
Representatives A-L P.O. Box 8952, Madison, WI 53708
Representatives M-Z P.O. Box 8953, Madison, WI 53708
MESSAGE:
WREA supports SB 351 and AB 623. We hope this legislation will be scheduled and passed yet this session. As a member of WREA and as your constituent, I encourage you to support this Prudent Investor legislation which applies the highest standards in the investment industry to the State of Wisconsin Investment Board (SWIB).
BACKGROUND INFORMATION:
WREA’s Support for Prudent Investor Legislation (SB 351 and AB 623)
Background
Since September the WREA Legislative Committee and Madison-based Research and Monitoring Sub-committee have been studying the Prudent Investor Legislation. WREA discussed this proposal with Dave Mills and Keith Bozarth, the former and current Executive Directors of the State of Wisconsin Investment Board (SWIB), respectively. We have reviewed various documents and articles, and we have met with other SWIB staff and annuitant groups.
Reasons WREA Supports This Legislation
WREA supports this legislation because
- The prudent investor standard is the HIGHEST standard applied in the industry.
- This legislation will allow SWIB investors more flexibility to use additional investment strategies critical to the future of the fund.
- WREA recognizes that diversification and investing for the long term are critical to the fund.
- We also recognize the importance of maintaining the appropriate investment standards, guidelines and policies that are currently in place in Wisconsin.
- WREA respects the expertise of the SWIB Board and Staff and values the good work they perform for the retirement fund and the state of Wisconsin.
- We are proud that Wisconsin has one of the best, if not the best pension funds, in the country. WREA wants SWIB to continue to be a leader and wants the best returns possible to the fund.
