CHAMPAIGN — A University of Illinois graduate and senior executive at a national financial services company will be the next executive director of the State Universities Retirement System.
The SURS board on Friday announced its selection of Martin Noven as the new executive director of the $18 billion state pension fund, effective Nov. 2.
Noven is senior director for government markets at TIAA (Teachers Insurance and Annuity Association of America), which provides retirement services for people in academia, research, medicine and other fields.
He is responsible for leading TIAA’s approach to retirement plans for state and local governments nationwide and providing guidance to public officials. He has been with TIAA since 2007.
Before that, he worked in various management positions at the Illinois Treasurer’s office.
SURS board Chairman Tom Cross said Noven has “the broad experience needed to guide the system at this critical time. We are confident he will serve the membership well.”
Noven replaces interim Executive Director William Mabe, who has held that job since June when former executive director W. Bryan Lewis resigned to take a position in Pennsylvania.
Noven received a bachelor’s degree in speech communication from the UI and a law degree from the University of Texas. In a release, he said he was “honored and excited” to take the job.
SURS serves 229,999 public university employees and retirees across the state.
The agency worked with Heidrick and Struggles, a Chicago-based firm, over the past five months to conduct a nationwide search for the position.