Administration Committee Meeting Minutes

Meeting: September 12, 2025 | Posted: October 27, 2025 | SURS Board of Trustees Meeting Minutes

The meeting of the Administration Committee of the Board of Trustees of the State Universities Retirement System (SURS) convened on Friday, September 12, 2025, at 9:00 a.m.

This meeting was held in person at State Universities Retirement System in Champaign, IL.

The following trustees were present: Dr. Andriy Bodnaruk, Dr. Fred Giertz, Mr. Scott Hendrie, Mr. Herbert Pitman (Zoom); Mr. Pranav Kothari, Mr. John Lyons, Dr. Steven Rock, Mr. Collin Van Meter (chair) and Mr. Antonio Vasquez.

Others present: Ms. Suzanne Mayer, Executive Director; Mr. Michael Schlachter, Chief Investment Officer (CIO); Mr. Jefferey Saiger, Chief Strategy & Technology Officer; Ms. Jackie Hohn, Chief Internal Auditor; Ms. Tara Myers, Chief Financial Officer; Ms. Bianca Green, General Counsel; Ms. Nichole Hemming, Chief Human Resources Officer; Mr. Albert Lee, Senior Associate General Counsel; Ms. Heather Kimmons, Associate Legal Counsel; Ms. Anna Dempsey, Investment Counsel; Ms. Kristen Houch, Director of Legislative and Stakeholder Relations; Ms. Jennifer Bartell, Director of Benefits Processing; Ms. Leslie Pouilliard, PMO Manager; Ms. Amanda Baker, Organizational Strategy Analyst; Ms. Lisa Fink, Communications Manager; Ms. Shauna Clayborn, Officer of Procurement and DEI; Ms. Jennifer Bartell, Director of Benefits Processing Claims; Ms. Kelly Carson, Ms. Chelsea McCarty and Ms. Annette Ackerman, Executive Assistants; Mr. Michael Calabrese of Foley & Lardner LLP; Mr. Kevin Noelke, Mr. Brian Murphy, Ms. Kristen Brundirks and Amy Williams of Gabriel, Roeder, Smith & Company (GRS); and Ms. Erica Oropeza of Linea Solutions.

Administrative Committee roll call attendance was taken. Trustee Bodnaruk, present; Trustee Kothari present; Trustee Rock, present; Trustee Van Meter, present; Trustee Vasquez, present.

Approval of Minutes

Trustee Van Meter presented the minutes from the Administration Committee meeting of June 6, 2025.

Trustee Kothari made the following motion:

• That the minutes from the June 6, 2025, Administration Committee meeting be approved as presented.

Trustee Rock seconded the motion, and it passed with all trustees present voting in favor of the motion.

Approval of Closed Minutes

Trustee Van Meter presented the closed minutes from the Administration Committee meeting of June 6, 2025.

Trustee Vasquez made the following motion:

• That the closed minutes from the June 6, 2025, Administration Committee meeting be approved as presented and remain closed.

Trustee Rock seconded the motion, and it passed with all trustees present voting in favor of the motion.

Chairperson’s Report

Trustee Van Meter did not have a formal chairperson’s report.

Procurement Inclusion Goal Renewal

Ms. Shauna Clayborn discussed the “Inclusion Goal FY2025” document that contains information relating to the SURS Procurement Inclusion Goal for FY 2026. This included an update of the procurement and DEI efforts and progress. She also discussed recommendations for the FY 2026 goal. Ms. Clayborn reported that the Open.Gov procurement software went live in October 2024 and is working very well.

Ms. Clayborn reviewed the SURS Procurement and Staffing Inclusion Policy and the corresponding statutorily required goal of 20 percent that was set by the Board last year. The policy established specific guidelines for the inclusion of minority-, women- and/or disabled-owned businesses in the SURS procurement processes. She also discussed the difference between the total SURS procurement spend compared to the MWDBE procurement spend.

Trustee Rock made the following motion:

• That based on staff recommendation, the SURS diversity procurement goal for contracts and purchases from businesses owned by minorities, females, and persons with a disability remain at 20 percent for Fiscal Year 2026.

Trustee Kothari seconded the motion which passed via the following roll call vote:

Trustee Bodnaruk – aye
Trustee Kothari – aye
Trustee Rock – aye
Trustee Van Meter – aye
Trustee Vasquez – aye

Approval of Overpayment Write-Offs

Ms. Jennifer Bartell reviewed documents titled “Write off Request Grater than $100 July 2025” and “OVP Supporting Documentation” that contains information relating to SURS Joint Committee on Administrative Rules 80 Ill. Adm. Code §1600.450 which established the procedures for SURS to use in its efforts to recover amounts overpaid to SURS members. If an overpayment is deemed uncollectible, SURS staff may ask the Board to approve a write-off of the overpayment balance, so it is no longer reflected in the accounts receivable ledger. Ms. Jennifer Bartell reviewed the overpayments that staff certified as being uncollectible at this point and she answered questions from the trustees.

Trustee Rock made the following motion:

• That based on the recommendation of SURS Staff, the benefit overpayments in the amount of $170,101.13 that are certified as uncollectible in accordance with 80 III. Adm. Code Section 1600.450 be written off.

Trustee Kothari seconded the motion which passed via the following roll call vote:

Trustee Bodnaruk – aye
Trustee Kothari – aye
Trustee Rock – aye
Trustee Van Meter – aye
Trustee Vasquez – aye

Review of Economic Assumptions

Ms. Tara Myers introduced personnel from Gabriel, Roeder, Smith & Company (GRS) who presented their report titled “SURS Economic Assumption Review Sept 2025” that contains information relating to the 2025 Economic Assumptions. There were no changes or recommendations presented to the board.

Quarterly Pension Administration System (PAS) Update

Mr. Jefferey Saiger introduced Ms. Leslie Pouilliard and Ms. Erica Oropeza of Linea Solutions who provided the “Admin Committee Memo” and the “SURS Board Velocity Update” document that contains information relating to the overall project status, quality, schedule, scope, financials and risks associated with the PAS project. She also shared a project success story.

Public Comment

There were no public comments presented to the Administration Committee.

Adjournment

There was no further business brought before the committee and Trustee Kothari moved that the meeting be adjourned. The motion was seconded by Trustee Rock, and it passed via the following roll call vote.

Trustee Bodnaruk – aye
Trustee Kothari – aye
Trustee Rock – aye
Trustee Van Meter – aye
Trustee Vasquez – aye

Respectfully submitted,

Suzanne Mayer

Executive Director and Secretary, Board of Trustees