The members serve two-year terms, and no more than three from either house may be from the same political party (S.D. ... The Governor appoints two trustees, and a representative of the investment council serves as an ex-officio non-voting ... 3-12-49). The day-to-day management of the System is handled by an Administrator whom the Board appoints to a four- year term. ... The latter approach gives the traditional aquot;snapshotaquot; effect, while the former reflects the System in perpetuity.
|Title||:||Public pension plans|
|Author||:||Cynthia L. Moore, Sarah C. Reilly, National Council on Teacher Retirement (U.S.)|