Trust Fund Investments

Utah Code tit. 67, ch. 67-19d, pt. 67-19d-P3

in effect

Utah Code § 67-19d-301 Investment of State Post-Retirement Benefits Trust Fund.

67-19d-301. Investment of State Post-Retirement Benefits Trust Fund. (1) The state treasurer shall invest the assets of the State Post-Retirement Benefits Trust Fund created under Section 67-19d-201 and the Elected Official Post-Retirement Benefits Trust Fund created under Section 67-19d-201.5 with the primary goal of providing for the stability, income, and growth of the principal. (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 them. (4) (a) The state treasurer may employ professional asset managers to assist in the investment of assets of the trust fund. (b) The treasurer may only provide compensation to asset managers from earnings generated by the trust fund's investments. Amended by Chapter 376, 2012 General Session

Utah Code § 67-19d-302 State treasurer to follow "prudent investor" rule -- Standard of care.

67-19d-302. State treasurer to follow "prudent investor" rule -- Standard of care. (1) The state treasurer shall invest and manage the trust fund assets as a prudent investor would, by: (a) considering the purposes, terms, distribution requirements, and other circumstances of the trust fund; and (b) exercising reasonable care, skill, and caution in order to meet the standard of care of a prudent investor. (2) In determining whether or not the state treasurer has met the standard of care of a prudent investor, the judge or finder of fact shall: (a) consider the state treasurer's actions in light of the facts and circumstances existing at the time of the investment decision or action, and not by hindsight; and (b) evaluate the state treasurer's investment and management decisions respecting individual assets: (i) not in isolation, but in the context of a trust fund portfolio as a whole; and (ii) as a part of an overall investment strategy that has risk and return objectives reasonably suited to the trust fund. Enacted by Chapter 99, 2007 General Session

Source: Utah Office of Legislative Research and General Counsel (le.utah.gov)URL: https://le.utah.gov/xcode/Title67/Chapter19D/67-19d-P3.html?v=C67-19d-P3_1800010118000101Fetched: 10/26/2026