54-52.5 State Retirement and Investment Office - North Dakota Statutes

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CHAPTER 54-52.5STATE RETIREMENT AND INVESTMENT OFFICE54-52.5-01.North Dakota state retirement and investment office.The stateretirement and investment office is created to coordinate the activities of the state investment
board and teachers' fund for retirement.54-52.5-02. Governing authority. The state investment board shall govern the stateretirement and investment office. The state investment board is responsible for overseeing and
operating the agency and may do all things necessary to coordinate the activities of the state
investment board and the teachers' fund for retirement. The board of trustees of the teachers'
fund for retirement and the state investment board shall maintain their legal identities and
authority as otherwise provided by law.54-52.5-03. State retirement and investment fund - Cost of operation of agency. Aspecial fund known as the "state retirement and investment fund" is established for the purpose
of defraying administrative expenses of the state retirement and investment office. The actual
amount of administrative expenses incurred by the state retirement and investment office must
be paid from the respective funds listed under section 21-10-06 and are hereby appropriated to
the state retirement and investment fund in proportion to the services rendered for each fund as
estimated by the state investment board.The amount necessary to pay all administrativeexpenses of the state retirement and investment office must be paid from the state retirement
and investment fund in accordance with the agency's appropriation authority.Any interestincome earned on the state retirement and investment fund must be credited to the fund.Page No. 1Document Outlinechapter 54-52.5 state retirement and investment office