PSPRS; investments

Added a new eligibility category for board members to include senior executives in fields like insurance, banking, auditing, human resources, or risk management, increasing the diversity of professional expertise on the board.

Mandated that the board conduct annual stress tests on the retirement system to evaluate risk exposure based on industry standards such as investment returns, inflation, and population growth.

Explicitly authorized the board to invest in alternative assets including private equity, venture capital, real estate partnerships, and limited liability companies, broadening the investment portfolio options.

The text was restructured from a standard introduced format to a formal Senate Engrossed version, incorporating the full statutory language with new subsections (D through S) that were not present in the initial draft.