Rotary learns about state board
Robert Lech, Jamestown Public Schools Superintendent, talked at Rotary about his service on the State of North Dakota Investment Board. He was elected to serve on the board when Robert Toso’s term expired. The fund currently has $9 billion in assets which the board is responsible to oversee. The fund includes many teacher and city retirement funds and also the Legacy Fund. This board is responsible for the investment of funds and not the allocation of any funds. The Legacy Fund has grown by 69 percent in the last year with funds of $6.9 billion, Lech said. There are 11 individuals who serve on this board. They have an outside investment agency that helps guide them in making investment decisions. During his time on the board they have had to deal with hiring a new director, consolidation of funds, and worked to reduce risk. Each member receives education and training to better understand investing strategy.
Nick Schmidt presided over the meeting. “Happy Dollars” were collected by Sergeant-at-Arms Erin Paulson. The invocation was given by Austin Bauer. Songs were led by Casey Stoudt with Jackie Tews on the piano.
Tom Boerger is in charge of today’s program. Pat Nygaard will lead the songs, and Jennifer Bollingberg will be the sergeant at arms. Harold Bensch will lead the invocation.