Regards State Teachers Retirement Board elections, membership

This bill updates the rules for selecting members of the State Teachers Retirement Board to ensure a mix of expertise and independence. It establishes specific qualifications for board seats, requiring that investment-focused members have direct experience in managing assets while prohibiting them from having worked for the retirement system or related financial firms in the last three years. The legislation also clarifies how these members are appointed, designating roles for the director of education, the state treasurer, and elected officials, while maintaining seats for current and retired teachers. These changes aim to structure the board's composition to better reflect professional investment knowledge and prevent conflicts of interest, without altering the terms of those already serving on the board.