This chapter does not apply directly to the defined contribution plans or an annuity savings account described in section 5(b) of this chapter or a private market fund (as defined in IC 5-10.2-10-11 ). However, the board shall:

1. (1) ensure that reasonable efforts are made during the due diligence process before an investment is made and in monitoring investments in:

   1. (A) the public employees' defined contribution plan established under IC 5-10.3-12 ;
   2. (B) an annuity savings account for the public employees' retirement fund established under IC 5-10.2-2-2 (a)(1);
   3. (C) the teachers' defined contribution plan established under IC 5-10.4-8 ;
   4. (D) an annuity savings account for the Indiana state teachers' retirement fund established under IC 5-10.2-2-2 (c)(1);
   5. (E) the legislators' defined contribution plan established under IC 2-3.5-5 ; or

   6. (F) a private market fund (as defined in IC 5-10.2-10-11 );

      to determine whether any investments would violate section 9 of this chapter; and

2. (2) take appropriate action, if necessary, consistent with the board's fiduciary duties.

As added by P.L.206-2023, SEC.1.