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Information on Minnesota State Agencies, Boards, Task Forces, and Commissions
Compiled by the Minnesota Legislative Reference Library
Investment Advisory Council
Function: Advises the Minnesota State Board of Investment concerning general policy relating to investments, on methods to improve the rate of return while maintaining adequate security, and on the form and content of the board's annual report.
Active dates:1977 -
The Council was created in 1977. The investment laws of the state were recodified in 1980 and the executive directors of the retirement systems were added to the Council membership in 1981. The active members of the retirement funds were added in 1982.
The Investment Advisory Council was reviewed by the Legislative Commission on Planning and Fiscal Policy (LCPFP) in 2013 as part of their biennial duty required by Minn. Stat. 3.885 Subd. 11. The LCPFP's 2013 Recommendations called for keeping the council.
As of 2014, 17 members. Ten of these members must be experienced in general investment matters. The state board must appoint the ten members. The other seven members are: the commissioner of management and budget; the executive director of the Minnesota State Retirement System; the executive director of the Public Employees Retirement Association; the executive director of the Teachers Retirement Association; a retiree currently receiving benefits from a statewide retirement plan; and two public employees who are active members of funds whose assets are invested by the state board. The governor must appoint the retiree and the public employees for four-year terms.
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Record last updated:
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