FOR IMMEDIATE RELEASE - June 20, 1996
Lowry appoints board members to oversee new teachers retirement plan
OLYMPIA -- Gov. Mike Lowry recently made appointments to the newly created Employee Retirement Benefits Board (ERBB). The ERBB will play a major role in the new Teachers' Retirement System (TRS) Plan 3 and will oversee the state's Deferred Compensation program. The TRS becomes effective July 1, 1996.
The appointments to the eight-member ERBB are:
Thomas Reardon, Tacoma (three-year term)
Sharon Jayne, Liberty Lake (two-year term)
Nancy Elves, Arlington (one-year term)
Dr. Robert Lenigan, Lakewood (three-year term)
Kathy Whitlock, Yelm (one-year term)
Gloria Champeaux, Sequim (two-year term)
Jan Twardowski, Frank Russell Securities, Inc., Tacoma (two-year term)
Al Symington, Simpson Investment, Co., Seattle (three-year term)
Sheryl Wilson, director of the Department of Retirement Systems, will chair the ERBB.
The duties of the ERBB include preselecting options for those TRS members who self-direct investments; establishing additional contribution rate options; selecting optional benefit payment schedules; approving actuarial equivalent annuities purchased from the combined Plan 2 and Plan 3 funds; and determining the basis for administrative charges. The ERBB will also select investment options for the state's Deferred Compensation program.
For more information contact Sheryl Wilson, Department of Retirement Systems,