SB0209 Summary

• Appointed trustees to the State Universities Retirement System board must immediately vacate their position if they become a system member or are sworn into elective state office, with the vacancy to be filled by the Governor.

• Elected trustees (participating employees or annuitants) elected after this Act's effective date must immediately vacate if they cease to be a participating employee or annuitant receiving retirement benefits.

• Elected trustees who are already serving on the effective date may continue serving their full term even if their status as a participating employee or annuitant terminates.

• Replaces terminology of "active participants" with "participating employees" and "participant" with "participating employee" throughout the statute.

• Effective immediately upon enactment.