The treasurer of state is a member of the board of trustees of the Iowa Department of Public Safety's Peace Officers' Retirement, Accident and Disability System (PORS). The board has the general responsibility for the proper operation of the system and has authorized the treasurer to administer the investment of the retirement fund in accordance with Iowa Code chapter 97A.7. The treasurer also designates and monitors a master custody institution that holds securities, settles investment transactions, collects income and performs investment portfolio accounting for the system.
The board has adopted an investment policy that stipulates how the retirement fund is to be invested and has hired various investment management firms to invest the money in the fund. Treasury staff monitors compliance of fund investments with the policies and manager guidelines established by the board, and makes regular reports to the board regarding fund and manager performance. Treasury staff also makes recommendations to the board regarding investment strategy and possible revisions to policies and guidelines.