State Universities Retirement System (SURS) Executive Director Martin Noven today announced a vacancy on the SURS Board of Trustees. The elected annuitant seat will be filled by a majority vote of the other five elected trustees.
SURS annuitants who are interested in being considered for the open seat on the board should contact Kelly Carson at [email protected] by July 5, 2019, at close of business (4:30 p.m. CST). Candidates will be required to complete an application form and submit a resume or statement of qualification. Elected trustees will review all applications and may interview qualified candidates.
Candidates must be retired from a SURS employer for at least one year. Candidates may not be formerly or currently employed by the University of Illinois. State statute allows only one SURS annuitant trustee from any of the University of Illinois campuses. Fred Giertz currently serves as an elected annuitant trustee representing the University of Illinois at Urbana-Champaign.
The vacancy is the result of Trustee John Engstrom’s resignation effective June 7, 2019, after more than 10 years of dedicated, much-appreciated service to SURS staff and members. The candidate that is selected will fill Trustee Engstrom’s seat until the 2021 trustee election.
The Illinois Pension Code [40 ILCS 5/15-159(e)] directs the elected members of the board to fill any unexpired term of a fellow elected trustee by a majority vote.
The SURS Board of Trustees consists of 11 trustees: four appointed by the governor, four active participants elected by the participants of SURS, two annuitants elected by the annuitants of the System, and, as set forth in the Illinois statute, the appointed chairperson of the Illinois Board of Higher Education serves as the chairperson of the SURS Board of Trustees.
The board meets at least quarterly, with additional committee meetings scheduled throughout the year. Trustees also are required to meet certain annual ethics, legislative and fiduciary training obligations, as well as complete eight hours of educational conferences on investments and public pension administration. Additional board information can be found here.
SURS encourages all annuitant members to consider serving on the board of trustees.