BISMARCK — North Dakota's State Investment Board announced Monday, Nov. 22, it has tapped Jan Murtha to lead the Retirement and Investment Office as the agency's new executive director.

Murtha has served as the agency's interim director since June when former Director Dave Hunter left the position for a job in the private sector.

Established in 1989, the Retirement and Investment Office aids the State Investment Board in investing state assets, including the $8.3 billion Legacy Fund. The agency's role has been elevated over the last decade as oil tax revenue made North Dakota a more prominent investor. RIO also serves as support staff to a panel tasked with developing a process for investing part of the Legacy Fund in local firms.

Murtha, a Michigan native, holds a law degree from Marquette University and has worked as an attorney for several government entities in North Dakota, Minnesota and Wisconsin. She was hired to be RIO's deputy director in June 2020.

Hunter was paid more than $230,000 in each of the last four years as the agency's executive director, according to openthebooks.com.