Bauman Steps Down from Illinois TRS Post

April 8, 2009 ( - Jon Bauman, executive director of the Teachers' Retirement System of the State of Illinois (TRS), resigned his post on Wednesday, effective immediately.

A TRS announcement said Bauman had served in his post since 2001 and was the system’s chief operating officer before that. According to the announcement, the TRS Board of Trustees has appointed Stan Rupnik, the TRS’ chief investment officer, as the interim executive director.

The TRS Board of Trustees also 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.

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.