67-19f-301. Investment of State Employees’ Annual Leave Program II Trust Fund.
| (1) |
The state treasurer shall invest the assets of the trust fund with the primary goal of providing for the stability, income, and growth of the principal. |
Terms Used In Utah Code 67-19f-301
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Income: means the revenues received by the state treasurer from investments of the trust fund principal. See Utah Code 67-19f-102
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- Trust fund: means the State Employees' Annual Leave Trust Fund created in Section 67-19f-201. See Utah Code 67-19f-102
| (2) |
Nothing in this section requires a specific outcome in investing. |
| (3) |
The state treasurer may deduct any administrative costs incurred in managing trust fund assets from earnings before distributing the trust fund assets. |
| (4) |
| (a) |
The state treasurer may employ professional asset managers to assist in the investment of assets of the trust fund. |
| (b) |
The treasurer may only provide compensation to asset managers from earnings generated by the trust fund’s investments. |
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Enacted by Chapter 437, 2014 General Session
