Arizona retirement board may use outside firms to manage investments

The board manages retirement funds and may have outside firms choose or manage particular investments. This applies to the public safety personnel retirement system and other plans and trusts the board manages. The board must use care when investing and follow the stated limits on stock and foreign investments.

The board is not required to invest in projects or programs that a federal entity directs or requires it to fund. This applies to federally directed or required investments intended to fund economic development, public works, or social programs. The board may still consider these investments as part of its responsibility to the system and plans it manages.