The formal Investment Policy Statement (IPS) is an important element in the comprehensive Treasury reform law approved by the Connecticut legislature. State Treasurer Denise L. Nappier proposed and advocated the creation of such a guiding document, which underscores the Treasurer's commitment to professional management, high standards of excellence and the utmost integrity. The members of the Investment Advisory Council (IAC) were consulted throughout its development. Although components of the IPS were already in place, the IAC approved the first comprehensive IPS document in March 2002.
In 2012, the Treasurer and the IAC performed a thorough assessment of the asset allocation and the liabilities for each of the pension plans and trust funds.
The Treasurer reviews the IPS on at least an annual basis with the IAC. Modifications to the IPS are submitted to the IAC for review in accordance with the provisions of Section 3-13b(c) of the Connecticut General Statutes.