Indiana Code 5-10.2-14-9. Duties of the INPRS board
Current as of: 2023 | Check for updates
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Sec. 9. (a) In making and supervising investments of the system, the board shall discharge its duties solely in the financial interest of the participants and beneficiaries of the system for the exclusive purposes of:
(2) defraying reasonable expenses of administering the system.
(1) providing financial benefits to participants and beneficiaries; and
Terms Used In Indiana Code 5-10.2-14-9
- Board: as used in this article , means the board of trustees of the Indiana public retirement system established by Indiana Code 5-10.2-1-1
- Fiduciary: A trustee, executor, or administrator.
- financial: means a prudent determination by a fiduciary to have a material effect on the monetary risk or the monetary return of an investment. See Indiana Code 5-10.2-14-3
- system: refers to the Indiana public retirement system established by Indiana Code 5-10.2-14-5
(b) The board, in accordance with the fiduciary duties described in this article, shall make investment decisions with the primary purpose of maximizing the target rate of return on the board’s investments.
As added by P.L.206-2023, SEC.1.