Investment, Illinois State Board of

Board and Commission Details

Contact Name

Dipesh Mehta

Contact Title

Deputy Executive Director


The Board manages the investments of the State Employees’ Retirement System, General Assembly Retirement System, Judges Retirement System, and the Public Employees Deferred Compensation Plan.


4 years, and until successor is appointed and qualified

Senate Confirmation



No member of the board shall have any interest in any brokerage fee, commission or other profit or gain arising out of any investment made by the board. This paragraph does not preclude ownership by any member of any minority interest in any common stock or any corporate obligation in which investment is made by the board.




9 trustees as follows: - 5 trustees appointed by the Governor - the State Treasurer - the State Comptroller - Chairman of the JRS - Chairman of the GAR


Elected by the Board biennially


40 ILCS 5/22A-109

Member Names

Name Member Expiration Member Since Affiliation Appointed By Position Title County
Tarnoff, Michael 05/31/2025 03/29/2019 Governor Member Lake
Martwick, Sen. Robert Chair, General Assembly Retirement System Board of Trustees Member State Senator Cook
Frerichs, Michael Treasurer Vice Chair Illinois State Treasurer Champaign
Mendoza, Susana Comptroller Member Illinois State Comptroller Cook
Seminara-Schostok, Justice Mary Judges Retirement System Board of Trustees Member Appellate Court Justice Lake
Sanders, Elizabeth 05/31/2027 09/09/2019 Governor Member Lake
Brewer, Matthew 05/31/2026 07/28/2023 Governor Member Cook
Vacant 05/31/2025 Governor Member
Healy, Terrence 06/01/2024 08/31/2020 Governor Chair Cook