SB79 Summary

• Increases the State Employees' Retirement System Board of Control from 13 to 15 trustees by expanding representation from participating employers.

• Adds four total trustees representing employers participating under Section 36-27-6, broken down as one from municipalities/cities, one from counties, one from other participating entities, and one additional member with staggered four-year terms.

• Requires the Governor to coordinate appointments of three board members appointed by the Governor to assure Board membership is inclusive and reflects the racial, gender, and economic diversity of the state, effective for appointments made after February 1, 2020.

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

• Increases the voting threshold for board decisions from 7 to 8 votes in favor due to the expanded board membership from 13 to 15 trustees.