On July 31, the ITRS Board unanimously voted to place Executive Director Richard Ingram on administrative leave due to performance issues covered by his employment contract.
On August 3, Mr. Ingram resigned from his position, effective immediately.
Stan Rupnik, chief investment officer of ITRS, has been named interim executive director to manage the day-to-day affairs of ITRS.
The Board will conduct a thoughtful, thorough and vigorous national search process for a new executive director, consistent with the best interests of ITRS and its important constituents.
About Teachers’ Retirement System
The Teachers’ Retirement System of the State of Illinois is the 37th largest pension system in the United States, and provides retirement, disability and survivor benefits to teachers, administrators and other public school personnel employed outside of Chicago. The System serves 434,313 members and had assets of $51.2 billion as of June 30, 2020.