State Investment Board Clients

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.

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.

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.

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.

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.  

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 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

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 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 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.

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

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

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 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