Utah Code 67-19f-301. Investment of State Employees’ Annual Leave Program II Trust Fund
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(1) The state treasurer shall invest the assets of the trust fund with the primary goal of providing for the stability, income, and growth of the principal.
Terms Used In Utah Code 67-19f-301
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Income: means the revenues received by the state treasurer from investments of the trust fund principal. See Utah Code 67-19f-102
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- Trust fund: means the State Employees' Annual Leave Trust Fund created in Section 67-19f-201. See Utah Code 67-19f-102
(2) Nothing in this section requires a specific outcome in investing.
(3) The state treasurer may deduct any administrative costs incurred in managing trust fund assets from earnings before distributing the trust fund assets.
(4)
(4)(a) The state treasurer may employ professional asset managers to assist in the investment of assets of the trust fund.
(4)(b) The treasurer may only provide compensation to asset managers from earnings generated by the trust fund’s investments.