Lawmakers Seeking More Oversight of ND InvestmentsNorth Dakota lawmakers want more oversight of how the state's pension funds are invested.
By: Associated Press,
BISMARCK, N.D. (AP) — North Dakota lawmakers want more oversight of how the state's pension funds are invested.
Hazen Sen. Randy Christmann is pushing legislation that would put six legislators on the North Dakota Investment Board.
The board oversees pension funds for public school teachers, judges, Highway Patrolmen and state and local government workers.
The board has 11 members, and six of them represent government workers and teachers.
Christmann's bill would put three state senators and three House members on the board, and take off four members that represent teachers and public employees.
The funds took a beating in the recent market downturn, and Christmann says legislators need to be more familiar with how investment decisions are made.
The North Dakota Senate's Industry, Business and Labor Committee reviewed the bill Wednesday.