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Register by Oct. 17 for NDRIO’s 2025 Investment Seminar
The North Dakota Retirement & Investment Office (NDRIO) will host its 2025 Investment Seminar on Oct. 23 in Bismarck.
"Investing with Intent: Strategies that Strengthen, Sustain, and Serve North Dakotans,” will bring together policymakers, investment professionals, and the public for a day of program insights, policy discussion, and networking.
Keynote Speaker Frank Kelly – political strategist, Wall Street veteran, former White House speechwriter, and global advisor – will share his expertise at the intersection of policy and markets. The conversation continues with:
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CIO Scott Anderson, CFA on Legacy Fund positioning and legislative initiatives
- An update on the State Investment Board program
- A panel discussion on the future of North Dakota’s in-state investment program
Secure your seat: Register Today
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The North Dakota State Investment Board (SIB) has engaged Funston Advisory Services to conduct its first independent review of the board’s governance model. The assessment will evaluate decision-making, oversight, and efficiency as the SIB manages over $24 billion in assets. This move supports transparency, fiduciary excellence, and recent initiatives like RIO’s shift to in-house investment management. READ MORE
Northern Trust to provide integrated trading solutions
Northern Trust has expanded its partnership with the North Dakota Retirement and Investment Office (NDRIO) to provide outsourced trading services. This supports NDRIO’s move to manage more State Investment Board assets in-house, improving efficiency and scalability through Northern Trust’s Integrated Trading Solutions platform. READ MORE
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NDRIO earns 27th financial reporting recognition
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North Dakota Retirement and Investment Office (NDRIO) has earned the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association for its Annual Comprehensive Financial Report for the fiscal year ending June 30, 2024. This marks the 27th consecutive year the agency has received the award.
RIO’s report includes a detailed review of the financial, investment, and actuarial conditions of the programs it administers: the State Investment Board and the Teachers’ Fund for Retirement. READ MORE
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Otteson welcomed as Chief Operating / Financial Officer
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The North Dakota Retirement and Investment Office (NDRIO) welcomed Adam Otteson as its new Chief Financial and Operating Officer (CFOO), effective Sept. 22, 2025.
As CFOO, Otteson oversees NDRIO’s middle- and back-office operations, leads financial, accounting, and investment operations functions, and guides budgeting, audits, payroll, and strategic fiscal planning.
A Certified Public Accountant with more than a decade of leadership experience in revenue compliance, internal controls, and financial operations, Otteson previously oversaw annual revenues exceeding $500 million and safeguarded an $8 billion investment portfolio for the North Dakota Department of Trust Lands. READ MORE
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State Investment Board
Governor Kelly Armstrong, chair, ex officio
member
Dr. Rob Lech, vice chair, Teachers' Fund
for Retirement board appointee
State Treasurer Thomas Beadle, ex officio
member
Rep. Glenn Bosch, Legacy & Budget
Stabilization Fund board appointee
Gerald Buck, Public Employees Retirement
System board appointee
Commissioner Joseph Heringer, Dept. of
Trust Lands, ex officio member
Pete Jahner, governor appointee /
institutional investment professional
Sen. Jerry Klein, Legacy & Budget
Stabilization Fund board appointee
Cody Mickelson, Teachers' Fund for
Retirement board appointee
Adam Miller, Public Employees Retirement
System board appointee
Director Joe Morrissette, Office of Man-
agement & Budget, governor appointee
Dr. Prodosh Simlai, governor appointee /
institutional investment professional
Director Art Thompson, Workforce Safety &
Insurance, ex officio member
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Retirement & Investment Office
Jodi A. Smith, executive director
Scott M. Anderson, chief investment officer
Eric Chin, deputy chief investment officer
Chirag Gandhi, portfolio manager
Ross Hambrick, portfolio manager
George Moss, portfolio manager
Matt Posch, portfolio manager
Lance Ziettlow, portfolio manager
Derek Dukart, senior analyst
Jac Collins, senior analyst
Cory Cox, investment analyst
Alex Weissman, investment analyst
Adam Otteson, chief financial / operating
officer
Tim Forsythe, deputy chief financial /
operating officer
Sarah Mudder, communications and
outreach director
Jennifer Ferderer, fiscal / investment
administrative assistant
Missy Kopp, executive assistant
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Other forms of this newsletter are available upon request.
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RIO's mission: "To provide prudent and transparent investment services for our client funds and support North Dakota public school educators with responsible benefit administration." |
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