2025 Session Last amended: 1989 session

§ 11A.01 — Statement of Purpose

Plain-Language Summary

This section states the purpose of Chapter 11A, which creates the State Board of Investment (SBI) to manage Minnesota's public funds. The Legislature created the SBI to centralize and professionalize the investment of state retirement funds and other public money. The goal is to earn the best possible returns for public employees and taxpayers while protecting the safety of public funds.

11A.01 STATEMENT OF PURPOSE.

The purpose of this chapter is to establish standards, in addition to the applicable standards of chapter 356A, to ensure that state and pension assets subject to this legislation will be responsibly invested to maximize the total rate of return without incurring undue risk.

History:

1980 c 607 art 14 s 1; 1989 c 319 art 8 s 2

History: History: 1980 c 607 art 14 s 1; 1989 c 319 art 8 s 2

Practical Notes

The State Board of Investment manages billions of dollars in retirement assets for Minnesota public employees, including teachers, state workers, and local government employees. The performance of these investments directly affects the financial security of retired public servants. The SBI’s investment decisions are governed by a prudent-investor standard and state law.

Source: Minnesota Office of the Revisor of Statutes