AL SB287

Expands the Teachers' Retirement System of Alabama Board of Control from 14 to an unspecified larger number of members by adding positions appointed by the Governor.

Adds one Governor-appointed member from each Alabama State Board of Education District who must have recognized competence and experience in evaluating and managing investments.

Sets initial appointment terms with four members appointed for two years beginning July 1, 2012, and remaining members appointed for three-year terms beginning July 1, 2012; thereafter all appointees serve three-year terms.

Provides that Governor-appointed vacancies are filled by gubernatorial appointment for the remainder of the term, while other board vacancies continue to be filled by Board majority vote.

Reduces the number of votes required for Board decisions from 12 to 8 and directs the Board membership to reflect the state's racial, gender, geographic, urban/rural, and economic diversity to the extent possible.