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