Illinois Gov. Pat Quinn nominated six new members to the board of the $27.2 billion Illinois Teachers’ Retirement System, Springfield, and four new members to the $8.7 billion Illinois State Board of Investment, Chicago. The trustees must be approved by the Illinois Senate.
Sweeping state ethics reform legislation that Mr. Quinn signed in early April required that all trustees appointed by former Gov. Rod R. Blagojevich — who was impeached and removed from office early this year — be replaced or reappointed.
Ronald Powell, a current ISBI trustee, was nominated to be reappointed. He is president of the United Food and Commercial Workers Union Local 881 and a trustee of the UFCW Midwest Pension Fund.
Among new trustees nominated to the TRS board is Michael D. Busby, former vice president of Watson Wyatt Worldwide, according to a news release from Mr. Quinn’s office.
(Click here to view the full release.)
Mr. Quinn has about 30 more days under the terms of the legislation to name trustees to the $10.5 billion Illinois State Universities Retirement System, Champaign.
Katherine Ridgeway, Mr. Quinn’s spokeswoman, said she did not have information about when SURS trustees would be nominated.
