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The North Dakota Teachers’ Fund for Retirement has been honored with the 2024 Public Pension Standards Award for Funding and Administration by the Public Pension Coordinating Council. The award is the benchmark for excellence in public defined benefit plans, evaluating standards of management, administration, and funding. 

The State Investment Board recognized outgoing leadership at its meeting today, extending its appreciation for two board members and the Retirement and Investment Office’s executive director for their impactful work on behalf of North Dakota citizens.

A report to the Legacy and Budget Stabilization Fund Advisory Board highlighted the progress of the Legacy Fund’s in-state investment program. At the close of the fiscal year, more than $450 million was committed to 40 North Dakota businesses and communities. To tap additional in-state opportunities, the State Investment Board will add another investment manager to the program’s roster next year. 

The Legacy Fund, North Dakota’s sovereign wealth fund, is a strategic asset dedicated to securing long-term financial stability that will allow North Dakotans to benefit from the state’s natural resources for generations to come. With the passage of Measure #3, the fund’s potential is even greater because more dollars can be invested long-term.

SIB members say they fully support transparency in the state’s Legacy Fund but caution that any proposed legislation aimed at the Legacy Fund should avoid harming its stability and growth or jeopardizing its in-state investment program.