SB 2751 Summary

• Modifies experience requirements for three citizen members of the Employees' Retirement System Board of Trustees who are not public employees
• Changes requirement that one member be a responsible bank officer to instead requiring two of three members have substantial experience providing financial services, including investments, to public, corporate, or private clients
• Aims to protect future sustainability of the Employees' Retirement System, particularly during periods of economic decline or stabilization
• Supported by the Department of Budget and Finance and the Board of Trustees of the Employees' Retirement System