Section 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.

• (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.

Enacted by Chapter 437, 2014 General Session