Description: The Legislature intended that the monies in the School Land Bank Fund, managed by the State Lands Commission, be invested in land acquisitions that would generate revenue for the Teachers’ Retirement Fund (TRF). However, our review finds that the commission made no such investments over the past five years, nor does it propose to in the budget year. We therefore recommend that the balance in the School Land Bank Fund be transferred directly to TRF for investment by the California State Teachers’ Retirement System.