The South Dakota Investment Council manages most of the financial assets of the state, including the retirement system, and trust funds.

Lieutenant Governor Matt Michels says initial estimates are that the funds will see about a twelve percent return for the year……

Michels is a board member of the state retirement system, and has helped make some structural changes…..

Members of the system who joined before July first this year are now “Foundation Members,” those who join after that are “Generational Members.” Benefits will change slightly for the new members.

Michels says the states investments got one of the highest ratings in the country…..

Michels says most of the changes approved in the last year will have a positive impact twenty years or more in the future.