# Georgia HB 78: Employees' Retirement System of Georgia; total percentage of funds invested in alternative investments; raise limit

Georgia HB 78, Employees' Retirement System of Georgia; total percentage of funds invested in alternative investments; raise limit, is a 2025-2026 Regular Session House bill sponsored by Mike Cameron (Republican), John Carson (Republican), Lehman Franklin (Republican) and 2 others; status signed, last action 2025-07-01 (Effective Date) (as of 2026-10-19).

- Canonical: https://policyrisk.com/state-bill/GA-HB78-2025-2026
- As of: 2026-10-19
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Georgia HB 78
- State: Georgia
- Session: 2025-2026 Regular Session
- Title: Employees' Retirement System of Georgia; total percentage of funds invested in alternative investments; raise limit
- Status: signed
- Chamber: House
- Introduced: 2025-01-16
- Last action: 2025-07-01, Effective Date
- Sponsors: Mike Cameron (Republican), John Carson (Republican), Lehman Franklin (Republican), Gary Richardson (Republican), Bill Yearta (Republican)
- Cosponsors: 1
- Subjects: Retirement, General Bill
- Touches household money: no
- Roll calls: 2 (196 yes, 27 no in all)
- Economic provisions PRIA read: 2

## Summary

No summary available.

## Bill overview: provisions PRIA read

- Georgia employee pensions get higher investment limits: mixed, low. Georgia's Employees' Retirement System can invest up to 10% of its assets in alternative investments, up from 5%. Total alternative investments cannot exceed that ceiling at any time. This expands the system's investment choices but does not directly change individual pension benefits.
- Georgia firefighter pensions get higher investment limits: mixed, low. The Georgia Firefighters' Pension Fund can invest up to 20% of its assets in alternative investments, up from 15%. Total alternative investments cannot exceed that ceiling at any time. This expands the fund's investment choices but does not directly change individual pension benefits.

## Sponsors and cosponsors

- Sponsor: Mike Cameron (Republican), House
- Sponsor: John Carson (Republican), House
- Sponsor: Lehman Franklin (Republican), House
- Sponsor: Gary Richardson (Republican), House
- Sponsor: Bill Yearta (Republican), House
- Cosponsor: Rick Williams (Republican), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2025-04-02 | Senate | PASSAGE | pass | 35 | 18 | 2 |
| 2025-02-24 | House | PASSAGE | pass | 161 | 9 | 2 |

## Actions (17)

- 2025-07-01: Effective Date
- 2025-05-01: House Date Signed by Governor (House)
- 2025-05-01: Act 63
- 2025-04-08: House Sent to Governor (House)
- 2025-04-02: Senate Tabled (Senate)
- 2025-04-02: Senate Taken from Table (Senate)
- 2025-04-02: Senate Third Read (Senate)
- 2025-04-02: Senate Passed/Adopted (Senate)
- 2025-03-18: Senate Read Second Time (Senate)
- 2025-03-13: Senate Committee Favorably Reported (Senate)
- 2025-02-26: Senate Read and Referred (Senate)
- 2025-02-24: House Third Readers (House)
- 2025-02-24: House Passed/Adopted By Substitute (House)
- 2025-02-20: House Committee Favorably Reported By Substitute (House)
- 2025-01-27: House Second Readers (House)
- 2025-01-17: House First Readers (House)
- 2025-01-16: House Hopper (House)

## Bill text

- HB 78/AP* (v8): [PDF](https://www.legis.ga.gov/api/legislation/document/20252026/239056)

## Related bills

- SB 160: Reckless Stunt Driving; a motor vehicle involved in a second offense of reckless stunt driving; replace the forfeiture penalty (signed)
- SB 384: Motor Vehicle; optional five-year motor vehicle registration and revalidation for certain motor vehicles; provide (signed)
- SB 76: License Plates; specialty license plate benefitting the Georgia Veterans Service Foundation; establish (signed)
- SB 406: "Georgia Property Owners' Bill of Rights Act"; enact (signed)
- HB 1391: Specialty license plates; honor public safety officers; establish (signed)
- HB 1344: Georgia Insurance Affordability and Claims Integrity Act; enact (signed)

## Sources
- [HB 78/AP* (v8) (PDF)](https://www.legis.ga.gov/api/legislation/document/20252026/239056)

## Related
- [SB 160: Reckless Stunt Driving; a motor vehicle involved in a second offense of reckles…](https://policyrisk.com/state-bill/GA-SB160-2025-2026)
- [SB 384: Motor Vehicle; optional five-year motor vehicle registration and revalidation f…](https://policyrisk.com/state-bill/GA-SB384-2025-2026)
- [SB 76: License Plates; specialty license plate benefitting the Georgia Veterans Servic…](https://policyrisk.com/state-bill/GA-SB76-2025-2026)
- [SB 406: "Georgia Property Owners' Bill of Rights Act"; enact](https://policyrisk.com/state-bill/GA-SB406-2025-2026)
- [HB 1391: Specialty license plates; honor public safety officers; establish](https://policyrisk.com/state-bill/GA-HB1391-2025-2026)
- [HB 1344: Georgia Insurance Affordability and Claims Integrity Act; enact](https://policyrisk.com/state-bill/GA-HB1344-2025-2026)
- [Georgia bills](https://policyrisk.com/states/georgia/bills)
- [Georgia state hub](https://policyrisk.com/states/georgia)
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Source: PRIA, https://policyrisk.com/state-bill/GA-HB78-2025-2026 (as of 2026-10-19).