State Rep. Planning Legislation on RSA Investments
A north Alabama lawmaker says he'll introduce legislation during the next session to defend the decision-making power of Retirement Systems of Alabama CEO, David Bronner.
Democratic Rep. Johnny Mack Morrow says he's upset about a decision the RSA board recently made requiring Bronner to have all investment decisions approved by a three-person committee.
Morrow, of Red Bay, tells the Florence Times Daily that RSA investments shouldn't be overseen by a committee.
Bronner has had sole authority over the organization's investments for nearly four decades.
The resolution says Bronner must have investment decisions approved by the committee beginning Feb. 1, and members of that committee can't delegate their responsibility to anyone else.
The proposal was made by newly-appointed board member, Curtis Stewart, who began his term earlier this year.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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