KANE, Attorney General, LILIEN, Deputy Attorney General, and YAKOWICZ, Solicitor General, April 5, 1978.
You have requested advice as to whether the State Employees' Retirement Board has the legal authority to "split" or reassign to other money managers the assets accumulated or to be accumulated in the retirement system presently managed by Mellon Bank, N.A. You also requested advice as to the guidelines under which such reassignment may occur...
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