The Minnesota State Board of Investment is the state agency responsible for administering and directing the investment of all state funds and the pension assets of the statewide public pension systems. Currently, the SBI is responsible for assets in excess of $39 billion and is one of the largest plan sponsors in the United States. The State Board of Investment office is in the Minnesota Retirement Building in St. Paul, Minn. In 2005, the Basic Retirement Funds increased 11 percent, and over the past 10-year period, the funds have experienced an annualized return of 9.3 percent. In the same year, the Post Retirement Fund was up 10.5 percent and provided a 10-year annualized return of 8.8 percent. At the close of June 2005, the Minnesota State Board of Investment had assets under management in excess of $50.5 billion.