In addition to its other powers and duties, the investment advisory committee shall:
(1) Make recommendations as to general investment policies, practices, and procedures to the retirement board;
(2) Review the investment transactions of the retirement board annually;
(3) Prepare a written report of its activities during each fiscal year. Each report shall be submitted not more than thirty days after the end of each fiscal year to the retirement board and to any other person who has submitted a request therefor.