Board Members

The Investment Board consists of nine members appointed by the governor to serve four-year terms, subject to senate confirmation. Members of the Investment Board include one citizen with at least ten years’ experience in public education administration, one Idaho state senator, one Idaho state representative, and six members from the public experienced in financial matters and the management of investment assets. Idaho Code, Section 57-718

Investment Board members serve until successors have been selected and qualified. A member of the board shall not hold an office or employment in a political party, except those from the Idaho legislature. A member may be removed for cause by a two-thirds vote of the full board. A vacancy during a term shall be filled by governor appointment for the unexpired term.

The board meets quarterly and at other times upon the call of the chair. By majority of the members, a board chair is elected. A majority of board members establish a quorum for the transaction of business. Idaho Code, Section 57-719

With approval of two-thirds of the members of the board, a manager of investments and portfolio managers may be employed or contracted to perform activities and functions as directed. The board may authorize the employment of staff that it deems necessary for the administration of the board’s business.

The Investment Board, along with its managers and custodians, oversees all financial assets belonging to the state’s permanent endowment and earnings reserve funds. This includes bonds, stocks, real estate, and other securities. The board and its investment managers are governed by the Idaho Uniform Prudent Investor Act, Idaho Code, Section 68-501; they invest and manage the assets of the respective trusts in accordance with that act and the Idaho constitution.