3-12C-225. Review of investment policy when return lower than average--Report to Governor and Legislature. In the event the investment return on the common stock portfolio or bond portfolio is lower than the average return achieved by other institutional investors of pension funds, then the Investment Council shall review the way in which the assets are being invested and the sources of investment advice being utilized to determine what changes, if any, are desirable to produce an investment return equal to or greater than the average, and shall make a report to the Governor and the Legislature on the investment performance results and any changes necessary to improve the investment return.
Source: SL 1974, ch 35, § 73; SDCL § 3-12-119; SL 2019, ch 22, § 1.
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