State Universities Retirement System (SURS) Executive Director Suzanne Mayer today announced a vacancy on the SURS Board of Trustees. The three-year, elected active-member seat will be filled by a majority vote of the other elected trustees who will hold seats as of July 15, 2024.
SURS members who are actively contributing to the system and are interested in being considered for the open seat on the board should request an application from Kelly Carson at [email protected].
Applications are due by May 24, 2024, by close of business at 4:30 p.m. CST. Candidates are required to submit a resume with their application. The elected trustees will review all applications and may choose to interview qualified candidates.
The vacancy is the result of the outcome of the May 1, 2024, trustee election. The only candidate who sought to fill the three-year unexpired active trustee seat on the board is employed by the University of Illinois Springfield. They were disqualified from serving due to restrictions in the Illinois Pension Code and in applicable SURS administrative rules* that limit the board to having a maximum of two active-member trustees from any of the University of Illinois campuses. SURS election rules mandate that the six-year term seats be filled before any unexpired term seats are filled and because newly elected Trustee Collin Van Meter (elected May 1 to a second six-year term) and current Trustee Andriy Bodnaruk are both employed by the University of Illinois, the candidate seeking the three-year term seat cannot serve.
The Illinois Pension Code [40 ILCS 5/15-159(e)] directs the elected members of the board to fill any vacant, unexpired term of an elected trustee by a majority vote.
Given the recent election results, interested candidates cannot be employed by any of the University of Illinois campuses.
The SURS Board of Trustees consists of 11 trustees including four elected active members, two elected annuitants, and five members appointed by the governor, of which one is the appointed chair of the Illinois Board of Higher Education.
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 investments and public pension administration education. Additional board information can be found at Board of Trustees – SURS.
SURS encourages all active members to consider serving on the board of trustees.
Due to the restrictions in 40 ILCS 5/15-159(D)(3) and (4) of the Illinois Pension Code and in SURS Administrative Rule 1600.730(g), there cannot be more than two active-member trustees from any of the University of Illinois campuses (Urbana-Champaign, Chicago or Springfield) serving on the SURS board and no more than one of the two annuitant members of the board can be retired from any of the University of Illinois campuses.