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Title:Secure Choice Savings Board
Function:the Board shall: (a) Cause the Program to be designed, established and operated in a manner that: (1) accords with best practices for retirement savings vehicles; (2) maximizes participation, savings, and sound investment practices; (3) maximizes simplicity, including ease of administration for participating employers and enrollees; (4) provides an efficient product to enrollees by pooling investment funds; (5) ensures the portability of benefits; and (6) provides for the deaccumulation of enrollee assets in a manner that maximizes financial security in retirement.
Term:The initial appointments for the Governor's appointees shall be as follows: one public representative for 4 years; one public representative for 2 years; the representative of participating employers for 3 years; and the representative of enrollees for 1
Senate Confirmation:Yes
Party Affiliation:N/A
Qualifications:a.) One member appointed by the Governor must serve or have served as a county or township assessment official. b.) One member appointed by the Governor who has knowledge of farming and agricultural practices.
Compensation:Expenses
Composition:The Board shall consist of the following 7 members: (1) the State Treasurer, or his or her designee, who shall serve as chair; (2) the State Comptroller, or his or her designee; (3) the Director of the Governor's Office of Management and Budget, or his or her designee;(4) two public representatives with expertise in retirement savings plan administration or investment, or both, appointed by the Governor; (5) a representative of participating employers, appointed by the Governor; and (6) a representative of enrollees, appointed by the Governor.
Chair:State Treasurer or Designee
Authority:820 ILCS 80

 Member Names

Name (Last, First)Term ExpiresMember SinceAffiliationAppointed ByPositionTitleCounty
Frerichs, MichaelStatuteChairState TreasurerNone
Harry, ScottStatuteMemberNone
Martinez, Miriam6/22/20178/10/2015GovernorMember, PublicCook
Marzahl, David6/22/20206/22/2015GovernorMember, EnrolleesCook
Mendoza, SusanaStatuteMemberIllinois ComptrollerNone
Rappaport, David6/22/20196/22/2015GovernorMember, PublicCook
Rauschenberger, John6/22/20186/22/2015GovernorMember, EmployersCook