SB402-AA2,1,155 25.18 (2) (e) Contract with and delegate to investment advisers the
6management and control over assets from any fund or trust delivered to such
7investment advisers for investment in real estate, mortgages, equities, debt of
8foreign corporations and debt of foreign governments, and pay such advisers fees
9from the current income of the fund or trust being invested. No more than 10% 15%
10of the total assets of the fixed retirement investment trust or 10% 15% of the total
11assets of the variable retirement investment trust may be delivered to investment
12advisers. The board shall set performance standards for such investment advisers,
13monitor such investments to determine if performance standards are being met and
14if an investment adviser does not consistently meet the performance standards then
15terminate the contract with such investment adviser.".