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The SBI manages the Non-Retirement Investment Program for designated trust funds, Other Post-Employment Benefits (OPEB) trusts, Qualifying Governmental Entities, and other programs established by the Minnesota Constitution and Legislature. The Non-Retirement Funds were created to provide eligible Minnesota public sector entities with access to broad asset class investment options to help achieve their investment objectives. SBI currently offers three Non-Retirement investment options—the Equity Fund, the Bond Fund, and the Money Market Fund—available to eligible entities authorized to invest with the SBI.
Non-Retirement Investment Program - Participating Plans and Allocation as of December 31, 2025
Investment Options eligible to Trusts and Other Participating Entities, OPEBs, and Qualifying Governmental Entities.
Additional information about these investment options and fund descriptions can be found in the Fund Descriptions below.
Descriptions and factsheets for Non-Retirement Investment Program investment options are provided below.
Non-Retirement Equity Fund
This Fund is passively managed by Mellon Investments Corporation in a separate account and seeks to track the performance of the S&P 500 Index.
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Non-Retirement Bond Fund
This Fund is actively managed by Prudential Global Investment Management (PGIM) and seeks to outperform the Bloomberg U.S. Aggregate Bond Index.
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Non-Retirement Money Market Fund
This Fund is managed by State Street Investment Management and seeks to provide safety of principal by investing in high-quality, short-term money market securities.
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