SDRS Board

South Dakota Retirement System (SDRS) Board.

SDRS is the liability side of the Retirement System and actually pays out the pension benefit checks, does customer service for SDRS members and figures actuary assumptions. SDIC is the Asset side that generates investment income/gains to pay the liabilities. So if SDIC is not being prudent with the Assets/Internal Controls, then its SDRS that gets the heat from pensioners. SDRS should be very upset about this incident, but apparently not.

• June 4, 2025:

  • SDRS Board has meeting about “Personnel Matters” on June 4th, five days after the Whistleblower Retaliatory Termination of a Senior Investment Manager about a collapse of Internal Controls at SDIC.

  • Matt Clark, SDIC State Investment Officer that fired Renae Randall on May 30th for Whistleblowing about a collapse of Internal Controls has a permanent seat on the SDRS Board.

  • Darin Seeley, BHRA Commissioner, signed off on the 3 months severance pay offer for the NDA the SDIC would send Renae Randall.

  • Hank Prim, AG Office Special Agent, is the person Renae is supposed to file her AG Whistleblower report too. Out of all the people that work at the AG Office, it’s quite the coincidence that Renae would be assigned the one on the SDRS Board that’s known about it from the beginning. (Renae would refer to this guy as Hank Fink in her writings because she was having panic attack issues and her brain was fritzing out occasionally).

  • No Board member ever discloses a Conflict of Interest as required by law.

  • After adjournment of the meeting, the Board gives Travis Almond, Executive Director of SDRS and SDIC Board member, an award for being so ethical. It was in the audio link like every other meeting they have, but has since been deleted. Many of the Minutes from 2022 and back are now missing also. (Please click on the Boards and Commissions Link and see for yourself)

• Sept 9, 2025:

  • John Richter and Samantha Koldenhoven give a “Fiduciary Education” presentation where they discussed how the SDRS Board meet the legal definition of a Fiduciary. They discuss how “Breaching fiduciary duty can result in personal liability, removal, loss of immunity, and reputational damage.  Additionally, co-fiduciaries can be held liable if they knowingly overlook a breach.  Silence is not a defense.” John Richter says the Board plays one of the most important public roles in South Dakota-safeguarding the retirement security of thousands of SDRS members and beneficiaries.

    • John Richter is also the state lawyer that has been advising Matt Clark/SDIC Board on sending the NDA to Renae Randall and cyberattacking/terrorizing her when she refused to sign.

  • They also had a presentation on Internal Controls. Brittnie Adamson, SDRS Director of Internal Audit, noted that the purpose of internal controls is to promote compliance with policies, rules, regulations, and laws.  They also help identify and reduce risk, enhance productivity, improve operational efficiency, safeguard assets, and build trust and confidence with stakeholders.

• Dec 8, 2025: Ft. Pierre SDRS/SDIC Whistleblower billboards go up.

• Dec 10, 2025:

  • Travis Almond, SDRS Executive Director, presents the “State of the System” were he discusses the challenge of maintaining effective communication.  He noted that some of his objectives include listening to and learning from stakeholders.  He emphasized the importance of clear communication with both staff and stakeholders.

    • Travis Almond is also on the SDIC Board and voted to send Renae Randall an NDA to cover-up her being fired for Whistleblowing about a collapse of Internal Controls at the SDIC where all of SDRS assets are managed.

  • Travis Almond also discusses proposed 2026 legislation.  He reiterates, “As fiduciaries, the SDRS Board and staff are statutorily required to act solely and exclusively for the benefit of our members and beneficiaries.” 

• Apr 1, 2025:

  • A Governance Manual Project aims to strengthen governance by improving clarity, transparency, and accessibility for trustees.  It outlines fiduciary, statutory, and legal responsibilities as well as routine Board approvals and processes related to financial reporting, transparency and oversight.

  • The Executive Director’s Performance Evaluation states, “The Board praised Mr. Almond for his performance as the Executive Director of SDRS.”

• Check back for more updates in the future!