BOARD/COMMISSION: Investment Advisory Council (IAC)

(SBI)

60 Empire Drive
Suite 100
St. Paul, MN
55103-3555

Web Site

Supported by MN State Board of Investment

ENABLING LEGISLATION
M.S. 11A.08.
Enabled: 07-16-2015
Revisor of Statutes Link

CONTACT

Char Olson

(651) 296-6252

send email

CHAIR

Gary Martin

(612) 306-1060

send email

Board Staff Support (1)

TITLE

NAME

PHONE

PRIMARY

Ex-Officio - Contact

Char Olson

Char.Olson@state.mn.us

(651) 296-6252

Yes

Board Chairs (1)

TITLE

NAME

PHONE

PRIMARY

Chair

Gary Martin

Gary.d.martin7@gmail.com

(612) 306-1060

Yes

DETAILS

Membership

The 17 members shall include 10 members experienced in general investment matters appointed by the board; ex-officio members include the commissioner of Minnesota Management and Budget, executive director of the Minnesota State Retirement System, executive director of the Public Employees Retirement Association, executive director of the Teachers Retirement Association; one retiree and two public fund members appointed by the governor.

COMPENSATION

Per Diem: $0.00
Other Compensation: None

MEMBERSHIP DETAILS

Requires Older Member - no
Requires Senate Approval - no
Members file campaign finance and disclosure - yes

Entity Powers and Duties, Activity Summary

The council advises the State Board of Investment on policy relating to the investment of state funds.

ACTIVITY SUMMARY

Generally, staff present their analyses and recommendations on various issues to the IAC. The IAC reviews these reports before making recommendations to the State Board of Investment for action. The IAC may meet on an as-needed basis.

Meeting Information

Meetings typically last: 3 hours

Meeting Frequency: Quarterly meetings are generally scheduled in February, May, August and November. Other meetings may be called on an as-needed basis.

Meetings are held at:
SBI Offices

Fiscal Information

Annual Staff Hours:

Total Appropriations:

Appropriations Description:

Fiscal Year Expenses: $0.00

Expenses Description:

Open Positions (4)

POSITION	SEAT	AUTHORITY	21-DAY MIN GUARANTEE	#SEATS	ACTION
Member	Member #3	State Board of Investment	2/23/2026	1	APPLY
Member	Member #5	State Board of Investment	2/23/2026	1	APPLY
Public Employee Member	Public Employee Member #1	Governor	11/7/2022	1	APPLY
Retiree Member	Retiree Member	Governor	11/7/2022	1	APPLY

Applicants (2)

NAME	POSITION	APPLICATION DATE
Abdirahman Abdi	Public Employee Member	9/1/2025
Rebecca Anderson	Public Employee Member	5/30/2025

Pending Appointments (0)

No pending appointments found.

Direct Appointments (4)

POSITION/SEAT

APPOINTING AUTHORITY

MEMBER NAME

STATUS

TERM END

Direct Appointments

Commissioner - Minnesota Management & Budget (MMB)

Commissioner of Management and Budget (MMB)

Erin Campbell

Filled

01/04/2027

Minnesota State Retirement System - Executive Director

Minnesota State Retirement System

Erin Leonard

Filled

01/01/2030

Public Employees Retirement Association - Executive Director

Public Employees Retirement Association

Doug Anderson

Filled

01/03/2028

Teachers Retirement Association - Executive Director

Teachers Retirement Association

Tim Maurer

Filled

01/03/2028

Current Members (13)

POSITION/SEAT

APPOINTING AUTHORITY

MEMBER NAME

STATUS

TERM END

Member

Member #1

State Board of Investment

Jen Wilson

Filled

01/03/2028

Member #2

State Board of Investment

Daniel McConnell

Filled

01/01/2027

Member #3

State Board of Investment

Kim Faust

Posted

01/03/2028

Member #4

State Board of Investment

Dennis Santos

Filled

01/01/2027

Member #5

State Board of Investment

Carol Peterfeso

Posted

01/03/2028

Member #6

State Board of Investment

Sunil Swami

Filled

01/03/2028

Member #7

State Board of Investment

Shawn Wischmeier

Filled

01/03/2028

Member #8

State Board of Investment

Nancy Orr

Filled

01/01/2027

Member #9

State Board of Investment

Amy Jensen

Filled

01/01/2027

Member #10

State Board of Investment

Gary Martin

Filled

01/01/2027

Public Employee Member

Public Employee Member #1

Governor

Denise Anderson

Posted

01/02/2023

Public Employee Member #2

Governor

Constance Onyiah

Filled

01/04/2027

Retiree Member

Governor

Peggy Ingison

Posted

01/02/2023

ALL BOARDS/COMMISSIONS