Time to fill annual opening on Investment Council

The Legislature’s Executive Board will be taking applications and conducting interviews in the weeks ahead as the initial steps for appointing a new member of the South Dakota Investment Council. Legislative Research Council director Jim Fry told Executive Board members today there isn’t a partisan restriction on the seat that’s opening. He said the council’s current membership is “fairly heavy” on bankers and suggested there might be consideration to choosing an appointee from a different sector. There are some names that have been suggested but they haven’t been contacted, Fry said. Last year the board considered more than half a dozen candidates from across South Dakota. Joseph Anglin of Spearfish is the current chairman and is finishing his five-year term. The Executive Board will accept names at its May meeting and can make a decision in June, said Rep. Chuck Turbiville, R-Deadwood, the board’s chairman. The council has five members appointed by the board, one per year, and three standing members, who are the state treasurer, the state lands commissioner and the South Dakota Retirement System’s administrator. The council oversees the investment policies and decisions for state government funds, the state school lands’ permanent fund, the state trust funds and the SDRS portfolio. The council’s next chairman, assuming that precedent is followed, will be the current vice chairman, Wes Tschetter of Brookings.

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