April 8, 2009
SPRINGFIELD, IL-Jon Bauman, executive director of the Teachers’ Retirement System of the State of Illinois (TRS), voluntarily tendered his resignation to the TRS Board of Trustees on April 8, 2009, effective immediately. Mr. Bauman has served as executive director at TRS since 2001. He joined the Teachers’ Retirement System in 1993 as the System’s chief operating officer.
The TRS Board of Trustees has appointed Stan Rupnik to serve as the interim executive director of the retirement system. Rupnik is also the chief investment officer at the Teachers’ Retirement System and was recently recognized by Money Management Letter as a leader in the public fund investing community. Rupnik will serve as interim director of TRS until a permanent executive director is hired.
The TRS Board of Trustees has authorized the issuance of a Request for Proposal (RFP) for an executive search firm to conduct a nationwide search for an executive director.
A search committee comprised of elected and gubernatorial appointees to the TRS Board of Trustees will work with the executive search firm to identify and interview qualified candidates for the position.
The Teachers’ Retirement System of the State of Illinois provides retirement, disability, and survivor benefits to public school teachers and administrators employed outside the city of Chicago. The System serves 355,584 members and had $29 billion in assets as of December 31, 2008.
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