The Iowa Legislature created the IPERS' Investment Board to establish policies and hire professional service contractors for IPERS’ investment and actuarial programs. The Board holds quarterly public meetings to review actuarial findings and investment performance, and to adopt actuarial assumptions and investment policies.
Investment Board Organization
Seven voting members and four nonvoting members make up the Investment Board.
The voting members are:
- Three public members, appointed by the Governor, who are not members of IPERS and who each have substantial institutional investment experience or substantial institutional financial experience.
- Three members, appointed by the Governor, who are members of IPERS: an active member who is an employee of a school district, area education agency, or merged area; an active member who is not an employee of a school district, area education agency, or merged area; and a retired member of IPERS.
- The State Treasurer.
The nonvoting members are:
- Two state representatives.
- Two state senators.
The senators and representatives are appointed by legislative leadership of the majority and minority parties in the Iowa House of Representatives and the Iowa Senate. The term for an Investment Board member appointed by the Governor is six years. Gubernatorial appointees are subject to confirmation by the Iowa Senate.