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54-52.5 State Retirement and Investment Office

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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<br>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<br>operating the agency and may do all things necessary to coordinate the activities of the state<br>investment board and the teachers' fund for retirement. The board of trustees of the teachers'<br>fund for retirement and the state investment board shall maintain their legal identities and<br>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 &quot;state retirement and investment fund&quot; is established for the purpose<br>of defraying administrative expenses of the state retirement and investment office. The actual<br>amount of administrative expenses incurred by the state retirement and investment office must<br>be paid from the respective funds listed under section 21-10-06 and are hereby appropriated to<br>the state retirement and investment fund in proportion to the services rendered for each fund as<br>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<br>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