{"data":{"id":"us-mn/minn.-stat.-356a.02","jurisdiction":"us-mn","citation":"Minn. Stat. § 356A.02","heading":"FIDUCIARY STATUS AND ACTIVITIES.","body":"Subdivision 1. Fiduciary status.\nFor purposes of this chapter, the following persons are fiduciaries:\n(1) any member of the governing board of a covered pension plan;\n(2) the chief administrative officer of a covered pension plan or of the State Board of Investment;\n(3) any member of the State Board of Investment; and\n(4) any member of the Investment Advisory Council.\nSubd. 2. Fiduciary activity.\nThe activities of a fiduciary identified in subdivision 1 that must be carried out in accordance with the requirements of section 356A.04 include, but are not limited to:\n(1) the investment and reinvestment of plan assets;\n(2) the determination of benefits;\n(3) the determination of eligibility for membership or benefits;\n(4) the determination of the amount or duration of benefits;\n(5) the determination of funding requirements or the amounts of contributions;\n(6) the maintenance of membership or financial records;\n(7) the expenditure of plan assets; and\n(8) the selection of financial institutions and investment products.","path":["RETIREMENT","CHAPTER 356A. PUBLIC PENSION FIDUCIARY RESPONSIBILITY"],"source_url":"https://www.revisor.mn.gov/statutes/cite/356A.02","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:43Z","sha256":"d5b0903998c3f7b661e73ffef4243a7a05768b6c939194e9221b64302d8973d4","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-356a.01","next":"us-mn/minn.-stat.-356a.03"},"notice":"GroundRules: Original legal text. Not legal advice."}