Georgia Judges of the Probate Courts Retirement Fund
| Judges of the Probate Courts Retirement Fund | |
| Basic facts | |
| Location: | Griffin, Georgia |
| Top official: | Chase Daughtrey, chair |
| Year founded: | 1958 |
| Active members: | 150 |
| Website: | Official website |
| Total assets under management | |
| 2022: | $105,830,816 |
- See also: Public pensions in Georgia
The Judges of the Probate Courts Retirement Fund is a Georgia state pension fund that provides retirement, disability, and survivor benefits for probate judges of every county in the state of Georgia and their families. The Judges of the Probate Courts Retirement Fund had $105,830,816 ($105.8 million) in total assets under management as of June 30, 2023.[1]
The management of public pension funds can indicate support or opposition to environmental, social, and corporate governance (ESG) investment practices. ESG investing considers the extent to which corporations align with and promote certain non-financial standards, such as net carbon emission or corporate board diversity goals. States typically hire asset management companies (AMCs) to direct pension plan investments, some of which have ESG commitments that guide their strategies.
This article features the following sections:
- Background: Information about the structure and functions of the Judges of the Probate Courts Retirement Fund.
- Pension performance overview: Overview of the funding level and assets managed by the Judges of the Probate Courts Retirement Fund.
- Assets and asset management: Information about the asset management companies (AMCs) that contract with Judges of the Probate Courts Retirement Fund, including a list of contracting AMCs that are participants in the Net Zero Asset Managers Initiative and the Climate Action 100+ initiative.
- Governance and accountability: Details about the Judges of the Probate Courts Retirement Fund's oversight board, including members and selection.
Background
- See also: Public pensions
The Judges of the Probate Courts Retirement Fund, founded in 1952, operates as a defined benefit plan based on a formula established by Georgia state law. These plans—based on the employee's length of service and salary— provide retirement, disability, and survivor benefits to the probate judges of every county in the state of Georgia and their families.[1]
The Judges of the Probate Courts Retirement Fund served over 150 active members and approximately 160 retirees and beneficiaries as of 2023.[1]
Pension performance overview
The following table features information about the funding level and assets managed by the Judges of the Probate Courts Retirement Fund as of June 2022:[1]
| Judges of the Probate Courts Retirement Fund performance (June 2022) | |||
|---|---|---|---|
| Fiscal year | Percent funded | Total liabilities | Total assets[2] |
| 2022 | 124% | $84,824,265 | $105,830,816 |
Assets and asset management
| Environmental, social, and corporate governance |
|---|
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| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
Asset management companies (AMCs) are hired to manage asset investment for state pension funds across all 50 states.
As of October 2024, 330 AMCs were members of the Net Zero Asset Managers Initiative (NZAM), and 391 AMCs were investor participants in the Climate Action 100+ initiative. Both international asset manager initiatives aimed to align the investment decisions of signatories with the goal of achieving net zero greenhouse gas emissions by 2050.[3][4]
NZAM announced on January 13, 2025, that it was suspending operations and removing the commitment statement and list of signatories from its website. The group said in a statement it would reevaluate its plans and operations in light of “[r]ecent developments in the U.S. and different regulatory and client expectations in investors’ respective jurisdictions.”[5]
List of AMCs contracting with the Judges of the Probate Courts Retirement Fund
The request for information about the list of AMCs contracting with the Judges of the Probate Courts Retirement Fund was denied. Our investment information is being withheld per O.C.G.A. § 47-1-14. "Our investment policy is established by our Board of Commissioners. Recorded minutes from our board meetings, and our annual financial statements are made publicly available on our website. Any further inquiries should be directed to this email."[6]
Governance and accountability
This section features information about the seven-member board of trustees that oversees the Judges of the Probate Courts Retirement Fund. The board is specific to oversight of the Judges of the Probate Courts Retirement Fund and does not exercise oversight duties for other state funds.[7]
Board selection method
The board of trustees that oversees the Judges of the Probate Courts Retirement Fund is made up of seven members:
- The governor or the governor's designee;
- An appointee of the governor who is not the attorney general;
- Four judges of the probate courts who are members of the fund; and
- One appointee of the governor who is a member of the fund and a retired judge of the probate court.[7]
Board of trustees membership
A seven-member board of trustees oversees the operation and administration of Judges of the Probate Courts Retirement Fund. The following individuals served on the board as of June 2023:[7]
- Chase Daughtrey, chair
- Bruce Wright, vice chair
- Mike Green
- Jeff Avant
- Garrison Baker
- Detria Carter Powell
- Rooney Bowen, III
See also
- Public pensions in Georgia
- Environmental, social, and corporate governance (ESG)
- Arguments about environmental, social, and corporate governance (ESG)
- Opposition to environmental, social, and corporate governance (ESG) investing
- Reform proposals related to environmental, social, and corporate governance (ESG)
- State legislative approaches opposing ESG investing
- State legislative approaches supporting ESG investing
External links
Footnotes
- ↑ 1.0 1.1 1.2 1.3 Judges of the Probate Court Retirement Fund of Georgia, "Judges of the Probate Courts Retirement Fund of Georgia Financial Statements Fiscal Year Ended June 30, 2022," accessed June 11, 2024
- ↑ Note: By default, this refers to the actuarial valuation of total assets. In some cases, the total market value of assets is shown instead. See the cited source for details.
- ↑ The Net Zero Asset Managers Initiative, "The Net Zero Asset Managers Initiative," accessed January 26, 2023
- ↑ Climate Action 100+, "The Three Goals," accessed June 20, 2023
- ↑ Pensions and Investments, "Net Zero Asset Managers initiative to suspend activities in wake of BlackRock departure," accessed January 15, 2024
- ↑ Ballotpedia, "Ballotpedia: Asset management data for state-administered pension funds across the 50 states," March 2023
- ↑ 7.0 7.1 7.2 ‘’Judges of the Probate Court Retirement Fund of Georgia,’’ “Board of Commissioners,” accessed June 11, 2024
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