HB 2634 provides that certain members of the Teacher Retirement System (TRS) Board of Trustees who were previously appointed by the Governor would now be elected by the membership of the system.  Under the provisions of the bill, three trustees would be elected by the active members of TRS, one trustee would be elected by the retired members, and one trustee who is employed by an institution of higher education would be elected from the members currently employed by a higher education institution.  The Governor would continue to appoint the three non-member trustees who have broad investment and financial experience.

If enacted, the bill will have no actuarial effect because it does not propose to change the funding or obligations of any public retirement system.