SB154 Summary

• Increases State Employees' Retirement System Board of Control from 13 to 15 trustees by adding two new elected positions for employees and retirees of employers participating under Section 36-27-6.

• Requires the Governor to ensure Board of Control membership is inclusive and reflects the racial, gender, and economic diversity of the state for appointments made after February 1, 2020.

• Restructures the four Section 36-27-6 employer representatives into separate elected positions: one for municipal/city employees (term ending September 30, 2022), one for county employees (term ending September 30, 2024), one for entity employees or retirees (term ending September 30, 2025), and one for other participating entity employees (term ending September 30, 2023).

• Allows a trustee who retires from active service after appointment or election to continue serving until the expiration of their term.

• Becomes effective immediately upon passage and Governor approval.