Politics & Regulation Tax & Legal

Illinois legislators force Bauman resignation


The indictment of former Illinois Governor Rod Blagojevich has led to a shake-up at the Illinois Teachers' Retirement System, which has been forced to re-organise its board of trustees following legislation that ousted gubernatorial appointees.

The legislation follows accusations that the elected trustees failed to prevent the corruption of Stuart Levine, a former trustee appointed by Blagojevich who has pleaded guilty to corruption. The state legislative terminated the contract of Jon Bauman, executive director of the $29 billion system.

  Jon Bauman

Levine's plea agreement with the US Attorney's office says that Levine concealed and failed to