State universities pension board director will retire next year

SHARE State universities pension board director will retire next year

The board that oversees Illinois state universities’ employees’ pension system is about to get an overhaul.

William Mabe, executive director of the State UniversityRetirement System,will retire on March 31, and five of the 11 board members’ terms will expire next summer.

It’s not yet known whether the three incumbent trustees who are elected by Retirement System members will seek to retain their board seats, said SURS spokeswoman Beth Spencer. Their terms expire on June 17, 2015.

The other two members whose terms are expiring are appointed by the governor.

Two of the three elected incumbents, Jacqueline Berger and Antonio Vasquez, represent active, still-working state employees. The third, Mitchell Vogel, represents retired state employees.

The two gubernatorial appointees whose terms expire are Richard Figueroa and Peter Newell. Their terms expire on June 29, 2015.

SURS members will vote from April 1 to May 1 to fill the three board vacancies from among candidates that they (the members) nominate.

The board expects to hire a search firm at an Oct. 30 meeting to find a new executive director, and intends to choose the new leader by the time Mabe retires, a spokesman said.

SURS generated headlines this year when it had to fix a glitch in the state pension law that threatened to drastically cut university professors’ and other senior-level employees’ retirement benefits.

Mabe, 67, said in an interview Thursday that he could have stayed on for another three years, but chose to retire now to do other things with his life.

“I’ve been here for five years and I’ve stayed as long as I had planned to stay,” Mabe said. “The pension issue had nothing to do with it. It’s still lingering in the courts, and (the SURS leadership) did the heavy lifting we had to do. … I wanted to retire when that was completed and things were quiet.”

The Latest
Kevin McCarthy’s father-in-law said Tuesday that McCarthy, killed along with his wife Irina, “had Aiden under his body when he was shot.” The boy told the grandfather when he picked him up from the police: “Mommy and Daddy are coming soon.”
The teen was walking down the street in the 2300 block of West 21st Street about 5:15 p.m. when he was shot in the chest, Chicago police said.
“Brookfield Police Department is working with Brookfield Zoo Police to actively investigate the situation throughout the park and surrounding area,” according to Brookfield Zoo’s official Twitter account.
A nation is acting irrationally when it allows, as police allege, a 21-year-man to walk into a store and legally buy a high-powered rifle that he will use to massacre parade goers.
“The shooter is still at large, so let’s pray for justice to prevail, and then let’s move on and let’s celebrate — celebrate the independence of this nation,” state Sen. Darren Bailey, R-Xenia, said on Monday 90 minutes after the shooting that left seven dead and at least 30 wounded.