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Title:Secure Choice Savings Board
Contact Name:Fernando Diaz
Contact Title:Office of Illinois State Treasurer
Contact Comments:
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 year. Thereafter, all of the Governor's appointees shall be for terms of 4 years.
Senate Confirmation:Yes
Party Affiliation:N/A
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
Avitia, Erica Marquez6/22/20256/13/2022GovernorMember, PublicCook
Bashir, Roderick6/30/20244/12/2022GovernorMember, EnrolleesCook
Clemons-Mosby, CurtStatuteMemberGOMBNone
Frerichs, MichaelStatuteChairState TreasurerNone
Mayall, Staci6/22/20233/14/2022GovernorMember, PublicBlank
Mendoza, SusanaStatuteMemberIllinois ComptrollerNone
Pai, Lotika6/22/20256/13/2022GovernorMember, EmployersBlank