Secure Choice Savings Board
Board and Commission Details
Contact Name
Fernando Diaz
Contact Title
Office of Illinois State Treasurer
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
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. Each appointment by the Governor shall be subject to approval by the State Treasurer, who, upon approval, shall certify his or her approval to the Secretary of State.
Chair
State Treasurer or Designee
Authority
820 ILCS 80
Member Names
| Name | Member Expiration | Member Since | Affiliation | Appointed By | Position | Title | County |
|---|---|---|---|---|---|---|---|
| Mayall, Staci Lynn | 06/22/2027 | 03/14/2022 | Governor | Member, Public | Fulton | ||
| Avitia, Erica Marquez | 06/22/2025 | 06/13/2022 | Governor | Member, Public | Cook | ||
| Frerichs, Michael | Statute | Chair | State Treasurer | ||||
| Bashir, Roderick | 06/30/2024 | 04/12/2022 | Governor | Member, Enrollees | Cook | ||
| Clemons-Mosby, Curt | Statute | Member | GOMB | ||||
| Mendoza, Susana | Statute | Member | Illinois Comptroller | ||||
| Pai, Lotika | 06/22/2025 | 06/13/2022 | Governor | Member, Employers |