Meeting of the Board of Trustees

June 5 @ 1:30 pm - 3:30 pm

Champaign, IL – The Board of Trustees of the State Universities Retirement System (SURS) will meet on Friday, June 5, 2026, at Northern Trust Global Conference Center, 50 S. LaSalle St., Chicago, IL 60604.

Times shown on the agenda that follows are approximate.

Members of the public who would like to make public comments during any SURS Board of Trustees or Committee meetings that are open to the public must comply with the requirements found in Title 80, Subtitle D, Chapter II, Section 1600.120 (i)(1) and (2) of the Illinois Register. Click here for details.

Optional Remote Connection for Public Members

Zoom Meeting Number: 1-312-626-6799 | Meeting ID: 896 5588 8683 Passcode: 012227

1. 1:30 p.m.

Roll Call of Trustees

2.* 1:30 p.m.

Motion to Allow Trustees to Participate Via Electronic Means, if Necessary​

3.* 1:30 p.m.

Approval of the Board of Trustees Meeting Minutes of:

a. April 16, 2026

Presenter: Chairman John Lyons

4.* 1:35 p.m.

Closed Session – if Necessary – Privileged and Confidential

Semi-Annual Review of Closed Board of Trustees Meeting Minutes of:

a. February 3, 2022 – Board of Trustees

b. June 2, 2022 – Audit & Risk Committee

c. June 3, 2022 – Board of Trustees

d. July 22, 2022 – Claims Panel Committee

e. October 5, 2022 – Claims Panel Committee

f. October 20, 2022 – Audit & Risk Committee

g. February 28, 2023 – Claims Panel Committee

h. March 10, 2023 – Executive Committee

i. August 21, 2023 – Claims Panel Committee (Dan Gaumer)

j. September 8, 2023 – Audit & Risk Committee

k. November 13, 2023 – Claims Panel Committee (Dan Gaumer)

l. March 1, 2024 – Executive Committee

m. June 6, 2024 – Investment Committee

n. June 6, 2024 – Administration Committee

o. June 6, 2024 – Audit & Risk Committee

p. June 7, 2024 – Board of Trustees

q. June 7, 2024 – Special Meeting of Elected Board of Trustees

r. August 15, 2024 – Special Investment Committee

s. August 26, 2024 – Claims Panel Committee (Dan Gaumer)

t. August 26, 2024 – Claims Panel Committee (Carolyn Clifford)

u. September 12, 2024 – Investment Committee

v. September 13, 2024 – Audit & Risk Committee

w. September 13, 2024 – Board of Trustees

x. September 13, 2024 – Executive Committee

y. October 24, 2024 – Investment Committee

z. November 19, 2024 – Claims Panel Committee (Carolyn Clifford)

aa. November 19, 2024 – Claims Panel Committee (Dan Gaumer)

bb. December 5, 2024 – Investment Committee

cc. December 5, 2024 – Audit & Risk Committee

dd. December 6, 2024 – Board of Trustees

ee. February 10, 2025 – Claims Panel Committee (Carolyn Clifford)

ff. March 6, 2025 – Investment Committee

gg. March 7, 2025 – Audit & Risk Committee

hh. March 7, 2025 – Board of Trustees

ii. April 17, 2025 – Investment Committee

jj. April 17, 2025 – Board of Trustees

kk. May 5, 2025 – Claims Panel Committee (Carolyn Clifford)

ll. May 5, 2025 – Claims Panel Committee (Dan Gaumer)

mm. June 5, 2025 – Investment Committee

nn. June 5, 2025 – Audit & Risk Committee

oo. June 6, 2025 – Administration Committee

pp. June 6, 2025 – Board of Trustees

qq. August 28, 2025 – Claims Panel Committee (Carolyn Clifford)

rr. August 28, 2025 – Claims Panel Committee (Dan Gaumer)

ss. September 10, 2025 – Executive Committee

tt. September 11, 2025 – Investment Committee

uu. September 11, 2025 – Audit & Risk Committee

vv. September 12, 2025 – Board of Trustees

ww. October 23, 2025 – Investment Committee

xx. October 23, 2025 – Board of Trustees

yy. November 4, 2025 – Claims Panel Committee (Carolyn Clifford)

zz. November 4, 2025 – Claims Panel Committee (Dan Gaumer)

aaa. December 4, 2025 – Investment Committee

bbb. December 4, 2025 – Audit & Risk Committee

ccc. December 5, 2025 – Board of Trustees

ddd. February 10, 2026 – Claims Panel Committee (Carolyn Clifford)

eee. February 10, 2026 – Claims Panel Committee (Dan Gaumer)

fff. March 5, 2026 – Investment Committee

ggg. March 6, 2026 – Board of Trustees

hhh. Exhibit A – Recommended minutes to remain closed

iii. Exhibit B – Recommended minutes to be opened

Presenter: Chairman John Lyons

5.* 1:40 p.m.

Review of Closed Verbatim Recordings – Privileged and Confidential

a. February 18, 2021 – Board of Trustees

b. June 21, 2021 – Executive Committee

c. June 2, 2022 – Investment Committee

d. August 11, 2022 – Executive Committee

e. September 8, 2023 – Audit & Risk Committee

f. November 13, 2023 – Claims Panel Committee (Carolyn Clifford)

g. December 7, 2023 – Investment Committee

h. December 8, 2023 – Audit & Risk Committee

i. December 8, 2023 – Board of Trustees

j. February 12, 2024 – Claims Panel Committee (Carolyn Clifford)

k. February 12, 2024 – Claims Panel Committee (Dan Gaumer)

l. February 29, 2024 – Investment Committee

m. February 29, 2024 – Audit & Risk Committee

n. March 1, 2024 – Board of Trustees

o. April 4, 2024 – Claims Panel Committee (Carolyn Clifford)

p. April 18, 2024 – Board of Trustees

q. May 6, 2024 – Claims Panel Committee (Dan Gaumer)

r. June 6, 2024 – Administration Committee

s. June 6, 2024 – Audit & Risk Committee

t. June 6, 2024 – Investment Committee

u. June 7, 2024 – Board of Trustees

v. June 7, 2024 – Special Meeting of Elected Trustees

w. August 15, 2024 – Special Investment Committee

x. August 26, 2024 – Claims Panel Committee (Carolyn Clifford)

y. August 26, 2024 – Claims Panel Committee (Dan Gaumer)

z. September 12, 2024 – Investment Committee

aa. September 13, 2024 – Audit & Risk Committee

bb. September 13, 2024 – Board of Trustees

cc. October 24, 2024 – Investment Committee

dd. November 19, 2024 – Claims Panel Committee (Carolyn Clifford)

ee. December 5, 2024 – Audit & Risk Committee

ff. December 5, 2024 – Investment Committee

Presenter: Chairman John Lyons

6. 1:45 p.m.

Chairman’s Report

Presenter: Chairman John Lyons

7. 1:50 p.m.

Executive Director’s Report

Presenter: Ms. Suzanne Mayer

8.* 1:55 p.m.

Board Travel

Presenter: Ms. Suzanne Mayer

9.* 2:00 p.m.

Review of Committee Actions

a. Audit & Risk Committee

b. Legal & Legislative Committee

c. Administration Committee

Presenter: Committee Chair

10. 2:05 p.m.

Report of Investment Committee Actions

Presenter: Trustee Scott Hendrie

11.* 2:10 p.m.

Election of Executive Committee Officers and At-Large Executive Committee Members for Fiscal Year 2027

Presenter: Chairman John Lyons

12.* 2:15 p.m.

Approval or Amendment of Nominations made by the Executive Committee and Election of Standing Committee Chairs and Committee Members for Fiscal Year 2027

Presenter: Chairman John Lyons

13.* 2:20 p.m.

Approval of 2027 Regular Meeting Dates

Presenter: Chairman John Lyons

14.* 2:30 p.m.

Approval of Fiscal Year 2027 Board Manual

Presenter: Ms. Bianca Green

15. 2:40 p.m.

Trustee Election Information

Presenter: Ms. Kelly Carson

16.* 2:50 p.m.

Fiduciary Liability, Cybersecurity, and other Insurance Renewals – Closed Session, if Necessary

Presenter: Ms. Tara Myers

17.* 3:10 p.m.

Personnel Items – Closed Session, if Necessary

Presenter: Chairman John Lyons

18.* 3:15 p.m.

General Counsel’s Litigation Report – Closed Session

a. General Counsel’s Litigation Report

b. Potential Litigation Matters (if any)

Presenter: Ms. Bianca Green

19. 3:30 p.m.

Informational Items Not Requiring Board Action

a. General Counsel’s FOIA Report

b. Comparative Financial Reports and Budget Variance

c. Member Services Division Report

d. Retirement Savings Plan Update for the Quarter Ending March 31, 2026

Presenters: SURS Staff

20. 3:30 p.m.

Public Comment

21. 3:30 p.m.

Trustee Comment

22.* 3:30 p.m.

Adjourn

* Denotes Action Item