Ch. 403                                    2003 LAWS OF MARYLAND

(3) [the State Superintendent of Schools, ex officio;

(4)] the State Treasurer, ex officio, who may appoint a deputy treasurer as
designee; and

[(5)] (4) [10] 11 trustees elected or appointed as follows:

(i) one trustee who is a member of the Correctional Officers'
Retirement System, the Employees' Pension System, the Employees' Retirement System,
the Judges' Retirement System, the Legislative Pension Plan, the Local Fire and Police
System, or the Law Enforcement Officers' Pension Plan, who shall be elected as
provided in subsection (b) of this section and may not be an employee of the State
Retirement Agency;

(ii) one trustee who is a retiree of the Correctional Officers'
Retirement System, the Employees' Pension System, the Employees' Retirement System,
the Judges' Retirement System, the Legislative Pension Plan, the Local Fire and Police
System, or the Law Enforcement Officers' Pension Plan, who shall be elected as
provided in subsection (b) of this section and may not be an employee of the State
Retirement Agency;

(iii) one trustee who is a member of the Teachers' Pension System or
the Teachers' Retirement System, who shall be elected as provided in subsection (b) of
this section and may not be an employee of the State Retirement Agency;

(iv) one trustee who is a retiree of the Teachers' Pension System or the
Teachers' Retirement System, who shall be elected as provided in subsection (b) of this
section and may not be an employee of the State Retirement Agency;

(v) one trustee who is either a member or retiree of the State Police
Retirement System, who shall be elected as provided in subsection (b) of this section
and may not be an employee of the State Retirement Agency;

(vi) one trustee who represents the interests of participating
governmental units in the Employees' Pension System and the Employees' Retirement
System; and

(vii) [four] FIVE trustees who:

1. represent the interests of the public;

2. are not members of any of the several systems;

3. are not affiliated with any of the external investment
managers for the several systems; and

4. have at least 10 years of substantial experience overseeing
similar pension systems, large foundations, or other similar large organizations with
fiduciary responsibilities relating to different classes of participants.

SECTION 3. AND BE IT FURTHER ENACTED, That:

- 2872 -