The Board of Administration of the Public Employees’ Retirement System is continued in existence. It consists of:
(a)
One member of the State Personnel Board, selected by and serving at the pleasure of the State Personnel Board.
(b)
The Director of Human Resources.
(c)
The Controller.
(d)
The Treasurer.
(e)
An official of a life insurer and an elected official of a contracting agency, appointed by the Governor.
(f)
One person
representing the public, appointed jointly by the Speaker of the Assembly and the Senate Committee on Rules.
(g)
Six members elected under the supervision of the board as follows:
(1)
Two members elected by the members of this system from the membership thereof.
(2)
A member elected by the active state members of this system from the state membership thereof.
(3)
A member elected by and from the active local members of this system who are employees of a school district or a county superintendent of schools.
(4)
A member elected by and from the active local members of this system other than those who are employees of a school district or a county superintendent of schools.
(5)
A member elected by and from the retired members of this system.