SB2574 Summary

• Reduces the size of the Board of Trustees of the Teachers' Retirement System of the State of Illinois from 15 members to 13 members.

• Decreases the number of Governor-appointed board members (who are not system members) from 7 to 5.

• Maintains the board's composition of the Superintendent of Education (ex officio), 5 teacher members elected by contributing members, and 2 annuitant members elected by annuitants.

• Changes the Governor's appointment requirement from appointing 1 additional member to appointing either 2 or 3 members in each even-numbered year, whichever is applicable.

• Takes effect July 1, 2021.