Illinois TRS executive director vacates position

The $51.2 billion Teachers’ Retirement System of the State of Illinois (ITRS) said on Aug. 6 that it unanimously voted to place executive director Richard Ingram on administrative leave due to performance issues covered by his employment contract.

Ingram officially resigned from his position on Aug. 3.

While ITRS searches for a replacement, Stan Rupnik, CIO of the pension fund, 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,” said the pension fund in a statement.

ITRS is the 37th largest pension system in the United States.