October 26, 1989
TO: PENSION COMMITTEE NO. 11-89
RE: STATE LAW RESTRICTIONS UPON INVESTMENTS IN
SECTION 403(b)(7) CUSTODIAL ACCOUNTS
__________________________________________________________
At its most recent meeting, the Pension Committee requested
that the Institute survey the full Committee in order to identify
states whose laws do not permit state employees to invest in
section 403(b)(7) custodial accounts.
Please contact me if you are aware of particular state laws
that currently prohibit such investments.
Kathy D. Ireland
Associate General Counsel