News

The North Dakota Retirement and Investment Office has selected Tactis LLC, a Washington, D.C.-based customer experience and digital engineering firm, to design, build, and manage a new Legacy Fund website that will provide North Dakotans with greater transparency and easier access to information about the state’s sovereign wealth fund. Devii, a North Dakota-based technology company, will serve as a subcontractor, providing secure data management solutions.

The North Dakota State Investment Board has adopted a modernized governance structure designed to strengthen oversight, improve decision-making, and support the long-term stewardship of public funds. The changes follow an independent assessment conducted by Funston Advisory Services LLC.

The North Dakota State Investment Board has selected Callan to provide investment performance measurement and benchmark consulting services following a competitive procurement process. Callan will provide independent measurement and analysis of the SIB's investment performance, helping to ensure results are evaluated against appropriate benchmarks and communicated clearly to decisionmakers and the public. 

The North Dakota Retirement and Investment Office welcomed Chase Kauffeld as its Chief Retirement Officer, effective Jan. 5, 2026. In this role, Kauffeld guides the Teachers’ Fund for Retirement, a defined benefit plan that provides retirement income to North Dakota educators.

The North Dakota Teachers’ Fund for Retirement has been recognized with the 2025 Public Pension Standards Award for Funding and Administration. 

The North Dakota State Investment Board has accepted the findings of an independent Governance Model Review conducted by Funston Advisory Services LLC and directed the Retirement and Investment Office to begin working with Funston on a comprehensive update of its Governance Manual.

The Retirement and Investment Office welcomed Adam Otteson as its new Chief Financial and Operating Officer (CFOO), effective Sept. 22, 2025. As CFOO, Otteson oversees RIO’s middle- and back-office operations, leads financial, accounting, and investment operations functions, and guides budgeting, audits, payroll, and strategic fiscal planning.

The Retirement and Investment Office has earned the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association for its Annual Comprehensive Financial Report for the fiscal year ending June 30, 2024. This marks the 27th consecutive year the agency has received the award.

The Retirement and Investment Office announced today that its 2025 Investment Seminar will be held Oct. 23 in Bismarck. The event offers policymakers, investment professionals, and the public with an inside view of how the agency, under the oversight of the State Investment Board, manages investments to meet client expectations.

The State Investment Board has selected Funston Advisory Services LLC to conduct the first-ever comprehensive assessment of its governance model, the framework that defines how the board operates, makes decisions, and oversees the Retirement and Investment Office to ensure accountability and resilience.