SDIC Board

lorin l. brass, Chair **

Royal dutch Shell plc, retired

loren koepsell, V Chair * **

Assistant Professor-Business Admin
Augustana University
Sioux Falls

Jeffrey L. Nelson *

East River Electric Power Co-op, retired

Paul Bisson *

Wells Fargo, retired

Greg kulesa

President ANAZ, Inc.

Ryan Brunner

Commissioner of School & Public Lands
State of South Dakota

Rich Sattgast *

State Treasurer
State of South Dakota

Robert A. Wylie

Executive Director
South Dakota Retirement System

* Denotes member of Audit Committee
** Denotes member of Compensation Committee


  • The SDIC Board consists of eight voting members.
  • South Dakota law stipulates that, "The members of the state investment council shall be qualified by training and experience in the field of investment or finance."
  • Five members are chosen by the Executive Board of the Legislative Research Council, a bipartisan board composed of members from both houses of the Legislature.
  • Three members serve ex officio: the State Treasurer, the Commissioner of School and Public Lands and the Executive Director of the South Dakota Retirement System.


  • Appoint and evaluate the State Investment Officer
  • Develop investment policy and establish asset allocation guidelines
  • Monitor implementation of the investment process
  • Oversee the audit process through the SDIC Audit Committee
  • Comply with and monitor Code of Ethics and Personal Investing Guidelines
  • Approve annual budget and long-term plan