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The North Dakota State Investment Board is pleased to announce the selection of Weaver’s Asset Management Consulting Services practice to provide investment compliance services.

Gov. Doug Burgum has appointed Alexis Rasset of Mandan, ND, to the Teachers’ Fund for Retirement board of trustees. The seven-member board is responsible for administering the pension program.

RIO has been honored with the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada.

RIO will host "Optimizing Returns for North Dakota’s Future," its inaugural investment seminar, on Sept. 25, 2024, at the Bismarck Public School’s Career Academy in Bismarck, ND.

North Dakota’s State Investment Board is pleased to announce the selection of Verus Advisory Inc. to provide comprehensive investment performance measurement and consulting services.  

RIO reported today that the Legacy Fund, the state’s sovereign wealth fund, has topped $10 billion.

At its May meeting, the SIB approved the Investment Policy Statements of three new clients - the Water Projects Stabilization Fund, the Opioid Settlement Fund, and the State Historical Society of North Dakota Endowment Funds.

RIO says more than $395 million in Legacy Fund assets are committed to or invested in North Dakota as of Dec. 31, 2023, highlighting the substantial progress the state’s in-state investment program has made in less than three years.

RIO Executive Director Jan Murtha issued a statement in response to a North Dakota News Cooperative story by Michael Standaert and the accompanying poll conducted by WPA Intelligence regarding North Dakota’s Legacy Fund.

The TFFR pension program has earned the 2023 Public Pension Standards Awards for Plan Funding and for Plan Administration from the Public Pension Coordinating Council.

RIO has been awarded the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada.

The ND Retirement and Investment Office (RIO), on behalf of the Teachers’ Fund for Retirement, will hold a public hearing on Oct. 27, 2023, at 9:00 a.m., CT, at NDRIO located at 1600 E. Century Avenue, Suite 3, Bismarck, ND 58507, to amend, create and repeal existing administrative code.

Gov. Doug Burgum has appointed Scott Evanoff of Minot to the Teachers’ Fund for Retirement (TFFR) board of trustees. The seven-member board is responsible for administration of TFFR’s pension program.

Gov. Doug Burgum has appointed Peter Jahner of Bismarck and Prodosh Simlai of Grand Forks as institutional investment representatives on the North Dakota State Investment Board.

The State Investment Board (SIB) approved an investment policy today that provides North Dakota’s Legacy Fund with the potential to produce greater returns.

Legislation passed during the recent session added two institutional investment experts to the State Investment Board. Interested parties are encouraged to complete  an application on the North Dakota Boards and Commissions' website.

North Dakota Teachers’ Fund For Retirement Board of Trustees has selected Gabriel, Roeder, Smith & Company as its new pension fund actuary.

The North Dakota Retirement and Investment Office Executive Director Jan Murtha announced the North Dakota State Investment Board (SIB) voted to approve changes to the Legacy Fund Investment Policy Statement at their meeting today.  

There will be no walk-in services, phone calls, or email access with TFFR Retirement Specialists Friday, October 21st through Wednesday, October 26th. Staff will do their best to respond promptly upon their return on Thursday, October 27th.  Thank you for your patience while they are out of the office for required training in order to provide superior customer service.

The North Dakota State Retirement and Investment Office is pleased to announce that the position of Deputy Executive Director/Chief Retirement Officer has been filled. After an extensive candidate recruitment, the agency offered the position of Deputy Executive Director/Chief Retirement Officer to Chad Roberts. Mr. Roberts began in his new role on July 11^th, 2022. 

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The June 2022 Briefly is now available. Please review the information regarding Year-end Employer Payment and Reports, Fiscal Year-End Checklist, PAS Project, Employer Contribution Rates for 2022-23, and TFFR Retirement Education Workshop in July.

The North Dakota State Investment Board is pleased to announce that the position of Chief Investment Officer has been filled.  At its meeting on December 15, 2021, the State Investment Board offered the position of Chief Investment Officer at the North Dakota Retirement & Investment Office (RIO) to Scott Anderson.  Mr. Anderson is scheduled to begin his new role the week of January 17, 2022.

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The North Dakota Retirement and Investment Office (RIO) announced today that the Executive Director position has been filled.

Official Press Release

The October 2021 Briefly is now available. Please review the information regarding Member Reporting Requirements, Workshops for Business Managers, In-Staff Subbing by RE-Employed Retirees Policy Suspension and Links for TFFR Forms.

We are seeking a Chief Investment Officer (CIO) with a high level of ethics and commitment to transparency. ND RIO, is an agency of the State of North Dakota and was assembled to capture administrative and investment savings in the management of two state programs: the retirement program of the Teachers’ Fund for Retirement (TFFR) and the investment program of the State of Investment Board (SIB).

SIB is the oversight board for NDRIO, the TFFR Board is responsible for the administration of the TFFR benefits program.  ND RIO has traditionally been led by a CIO/Executive Director.  As the investment program has grown dramatically, the SIB made the decision to bifurcate the Chief Investment Officer role from the Executive Director responsibilities.  

The CIO will report to the Executive Director and is responsible for administering the investment program of SIB.

Responsibilities and Preferred Qualifications please view the Position Specifications.

ND RIO has retained EFL Associates for this important search. To apply please send your resume to Lauren McElderry, of EFL Associates, at lmcelderry@eflassociates.com.

Fargo, N.D. - 50 South Capital Advisors, LLC, the general partner of the newly-formed North Dakota Growth Fund (NDGF or the Fund), recently launched its interactive website for the Fund. The Fund was created, with the support of the State Investment Board, to further advance innovation and private markets investments in the state by seeking investments that provide strong risk-adjusted returns and support the growing entrepreneurial ecosystem in the state.

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The North Dakota Retirement & Investment Office (RIO) has issued a Request for Proposal (RFP) for Executive recruitment services to identify and evaluate qualified candidates to fill the position of Chief Investment Officer – Executive Director. The solicitation period closes Friday, July 16, 2021 at 10:00 AM CT.

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BISMARCK, ND – The Teachers' Fund for Retirement (TFFR) Board of Trustees met yesterday to review and discuss TFFR Fund policy initiatives, and recognize Mr. Hunter, Executive Director and Chief Investment Officer for the North Dakota Retirement and Investment office (RIO). Mr. Hunter has served in his position since 2013 and recently announced his resignation from RIO. TFFR is a client Fund of the State Investment Board (SIB), and the TFFR Program is also administered by the RIO agency.

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BISMARCK, ND – The North Dakota State Investment Board (SIB) convened today to accept the resignation of Executive Director and Chief Investment Officer David Hunter effective June 22, 2021. The SIB thanked Mr. Hunter for his years of dedication and service to the State and investment program. Vice Chair Dr. Rob Lech applauded Mr. Hunter for his commitment to due diligence and a growth oriented leadership.

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BISMARCK, NORTH DAKOTA, JUNE 14, 2021 – The State Investment Board (SIB) of North Dakota recently formed the North Dakota Growth Fund {1889 Growth Fund L.P.}. The Fund was created to further advance innovation and private markets investments in North Dakota by seeking investments that provide strong risk-adjusted returns and support the growing entrepreneurial ecosystem in the state.

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The May 2021 Briefly is now available. Please review the information regarding Year-end Employer Payment and Reports, Fiscal Year-End Reminders, PAS Project, Employer Contribution Rates for 2021-22 and TFFR Retirement Education Workshop in July.

The North Dakota Retirement and Investment Office (RIO) announced today that Executive Director and Chief Investment Officer David Hunter is resigning his position effective June 22, 2021.

Official Press Release

The March 2021 Vested Interest is now available.  Please review the information regarding SIB Client Investment Information and Board Updates.

TAKE NOTICE that the North Dakota Retirement and Investment Office on behalf of the Teachers’ Fund For Retirement Board will hold a public hearing to address proposed amendments to N.D. Admin. Code 82-05-01-02, 82-05-04-02, and 82-05-04-04 at 10:00 a.m. on Friday, March 12, 2021 at 3442 East Century Avenue, Bismarck, ND, 58507. The purpose of the proposed amendments is to implement state statutes and federal law relating to the Teachers’ Fund For Retirement program requirements. The proposed amendments address the following: 
In N.D.A.C. 82-05-01-02, the amendment expands the list of documents accepted by the program as proof of age to include REAL ID; 
In N.D.A.C. 82-05-04-02, the amendment updates the actuarial factors, such as the interest rate, and member and beneficiary mortality tables used by the program to calculate optional payment forms; In N.D.A.C. 82-05-04-04, the amendment updates the actuarial factors, such as the interest rate and salary increase rate used by the program to calculate purchase of service. 
The proposed amendments are not expected to have an impact on the regulated community in excess of $50,000. 
The proposed rules may be reviewed at the office of the North Dakota Retirement and Investment Office at 3442 East Century Avenue, P.O. Box 7100, Bismarck, ND, 58507-7100. A copy of the proposed rules and/or a regulatory analysis may be requested by writing the above address, e-mailing rio@nd.gov, or calling 701-328-9885. Written or oral comments on the proposed rules sent to the above address or telephone number and received by Wednesday, March 24, 2021, will be fully considered. 
If you plan to attend the public hearing and will need special facilities or assistance relating to a disability, or would like to attend the hearing virtually, please contact the North Dakota Retirement and Investment Office at the above telephone number or address at least one day prior to the public hearing.   

Click here to view the Full Notice 

Click here to view Proposed Rules

The January 2021 Briefly is now available. Please review the information regarding Employer Payment and Reports, In-Staff Subbing by Reemployed Retires Policy Suspension, GASB 68 information and Submitting TFFR Forms By Secure Link.

The October 2020 Vested Interest is now available.  Please review the information regarding SIB Client Investment Information.

The October 2020 RETIREMENTtoday is now available.  Please review the information regarding your Annual Retirement Benefit Notice, who's new to TFFR and the new TFFR Website.

The October 2020 REPORTcard is now available. Please review the information regarding your Annual Benefit Statement, who's new to TFFR, COVID-19 update regarding TFFR services and the new TFFR Website.

As school districts continue to face challenges during the current pandemic, many of you have questions related to TFFR reporting and the COVID-19 funding that was made available to schools. Click here for a list of questions received by the Retirement and Investment Office related to these issues, and our response. 

State Investment Board raises Legacy Fund “In-State Investing Commitment” to a record high of $400 million with a new $100 million funding commitment

Bank of North Dakota to expand in-state loan program from $300 million to $400 million

The August 2020 Briefly is now available. Please review the information regarding new member reporting requirements, TFFR forms and Salary Verification Reporting.

The May 2020 Vested Interest is now available.  Please review the information regarding TFFR and PERS Net Investment Returns.

The April 2020 Briefly is now available. Please review the information regarding COVID-19, Fiscal Year-End Reminder Checklist and Reporting Hourly Wages for June-July.

ATTENTION: Visiting Our Office

Due to public health concerns related to the coronavirus outbreak (COVID-19) and Governor Burgum’s executive order, the ND Retirement and Investment Office (RIO) is closed to public visitors until further notice.

Teachers’ Fund for Retirement (TFFR) and State Investment Board (SIB) client services remain fully functional, but will primarily be delivered by electronic means. Our staff is transitioning to working remotely to avoid disruptions for TFFR members and SIB clients. We will continue to administer critical retirement and investment program operations, claims processing, and retiree payroll functions.

Please contact us by phone (1.800.952.2970 or 701.328.9885) or email us at rio@nd.gov. Thank you for your patience and support. Stay safe!

Top 5 Things to know about TFFR regarding COVID-19

TFFR Employer Reporting FAQs regarding COVID-19

The February 2020 RETIREMENTtoday is now available.  Please review the information regarding 2020 Tax Withholding, Membership Statistics, the 2019 Annual Report Summary and Board updates.

The February 2020 REPORTcard is now available. Please review the information regarding Retirement Education Workshops, Membership Statistics, Board updates and the 2019 Annual Report Summary.

The January 2020 Briefly is now available. Please review the information regarding GASB 68 information, Retiree Reemployment Guidance and TFFR Staffing Updates.

The October 2019 Briefly is now available.  Please review the information regarding TFFR Forms, Employer Reporting Reviews and Employer Audit Information.

The October 2019 Vested Interest is now available.  Please review the information regarding TFFR and PERS Investment Returns in Fiscal 2019 & a State Investment Board Member Update.

State Investment Board puts Legacy Fund investments to work for North Dakotans, makes changes to further improve performance

Board increases loan fund for new businesses by $100M, adopts best practice for defining Legacy Fund earnings

The August 2019 RETIREMENTtoday is now available.  Please review the information regarding TFFR Member Online.

The August 2019 Briefly is now available.  Please review the information regarding Member Reporting Requirements, Employer Reporting Reviews and Employer Audit Information.

The August 2019 REPORTcard is now available.  Please review the information regarding Annual Benefit Statements & the Group Benefit Counseling schedule.