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.
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 |