602.9111 Investment of fund. 1. So much of the judicial retirement fund as may not be necessary to be kept on hand for the making of disbursements under this article shall be invested by the treasurer of statein any investments authorized for the Iowa public employees’ retirement system in section97B.7A and subject to the requirements of chapters 12F, 12H, 12J, and 12K, and the earningstherefrom shall be credited to the fund. The treasurer of state may execute contracts andagreements with investment advisors, consultants, and investment management and benefitconsultant firms in the administration of the judicial retirement fund. 2. Investment management expenses shall be charged to the investment income of the fund and there is appropriated from the fund an amount required for the investmentmanagement expenses. The court administrator shall report the investment managementexpenses for the fiscal year as a percent of the market value of the system. 3. For purposes of this section, investment management expenses are limited to the following: a. Fees for investment advisors, consultants, and investment management and benefit consultant firms hired by the treasurer of state in n, investment management expenses are limited to the following: a. Fees for investment advisors, consultants, and investment management and benefit consultant firms hired by the treasurer of state in administering the fund. b. Fees and costs for safekeeping fund assets.c. Costs for performance and compliance monitoring, and accounting for fund investments. d. Any other costs necessary to prudently invest or protect the assets of the fund.4. The state court administrator and the treasurer of state, and their employees, are not personally liable for claims based upon an act or omission of the person performed in thedischarge of the person’s duties concerning the judicial retirement fund, except for acts oromissions which involve malicious or wanton misconduct. [C50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §605A.11]83 Acts, ch 186, §10202(2)CS83, §602.911184 Acts, ch 1180, §10; 96 Acts, ch 1187, §109; 2001 Acts, ch 68, §18, 24; 2007 Acts, ch 39, §13; 2011 Acts, ch 82, §13; 2017 Acts, ch 29, §159; 2023 Acts, ch 58, §14 Subsection 1 amended Sat Dec 23 11:16:58 2023 Iowa Code 2024, Section 602.9111 (24, 2)
Iowa Legal Code