SB2545 Summary

• Amends the State Universities Retirement System (SURS) board structure by requiring appointed trustees to immediately vacate their position upon becoming a system member or being sworn into elective state office, with the position declared vacant.

• Changes terminology from "active participants" to "participating employees" and from "participant" to "participating employee" throughout the trustee provisions.

• Provides that elected trustees in office on the effective date who later lose their status as participating employees or annuitants may continue serving the remainder of their term, but trustees elected after the effective date must immediately vacate upon status termination.

• Requires immediate disqualification of any trustee elected to a participating employee position after the act's effective date if they cease being a participating employee, and any trustee elected to an annuitant position if they cease receiving retirement annuity benefits.

• Takes effect immediately upon becoming law.