Sec. 13. 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) ensure that reasonable efforts are made during the due diligence process before an investment is made and in monitoring investments in:
(A) the public employees' defined contribution plan established under IC 5-10.3-12;
(B) an annuity savings account for the public employees' retirement fund established under IC 5-10.2-2-2(a)(1);
(C) the teachers' defined contribution plan established under IC 5-10.4-8;
(D) an annuity savings account for the Indiana state teachers' retirement fund established under IC 5-10.2-2-2(c)(1);
(E) the legislators' defined contribution plan established under IC 2-3.5-5; or
(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) take appropriate action, if necessary, consistent with the board's fiduciary duties.