The Board’s Mission. The Investment Board of IPERS was created by state law to establish policies and hire professional service contractors for IPERS’ investment and actuarial programs. The Investment Board holds quarterly public meetings to review actuarial findings and investment performance. The board also adopts actuarial assumptions and investment policies. (Read more about IPERS’ actuarial program under IPERS Central > Performance.)
The Board’s Organization. The Investment Board consists of eleven members, including seven voting members and four nonvoting members. The voting members are as follows:
- Three public members, appointed by the Governor, who are not members of IPERS and who each have substantial institutional investment experience or substantial institutional financial experience.
- Three members, appointed by the Governor, who are members of IPERS: one must be an active member who is an employee of a school district, area education agency, or merged area; one must be an active member who is not an employee of a school district, area education agency, or merged area; and one must be a retired member of IPERS.
- The State Treasurer.
The nonvoting members of the Investment Board are two state representatives and two state senators. The senators and representatives are appointed by legislative leadership of the majority and minority parties in the Iowa House of Representatives and the Iowa Senate.
The term for an Investment Board member appointed by the Governor is six years. Gubernatorial appointees are subject to confirmation by the Iowa Senate.