WRS News Online

Senate Confirms Reappointment of Trustee Sheehy

 Rick Smirl
Tim Sheehy

Trustee Tim Sheehy has been reappointed to serve on the State of Wisconsin Investment Board's Board of Trustees.

Sheehy is a gubernatorial appointment. The Senate Committee on Revenue, Financial Institutions and Rural Issues recommended Sheehy's reappointment and it was approved by the full Senate in October. Sheehy will serve a six-year term that expires in May 2023.

Sheehy, who was originally appointed to the Board in 2016, is president of the Metropolitan Milwaukee Association of Commerce. Prior to being named president in 1993, he served in various capacities with the MMAC in governmental affairs and economic development. Sheehy is a Ford Foundation Fellow on Regional Sustainable Development, a graduate of the Institute for Organizational Management and a certified chamber of commerce executive. He is a graduate of the University of Wisconsin-Madison with a degree in political science.

The SWIB Board of Trustees consists of nine members meeting specific requirements. These include:

  • The secretary of administration or a designee;
  • One member appointed for a six-year term representing a local government that participates in the Local Government Investment Fund;
  • Five public members appointed for staggered six-year terms and four having at least 10 years of investment experience; and
  • Two participants in the Wisconsin Retirement System appointed for six-year terms, one a teacher participant appointed by the Teacher Retirement Board and one a participant other than a teacher appointed by the Wisconsin Retirement Board.

Trustees have a fiduciary responsibility to act solely in the interest of the WRS trust funds. They also appoint the executive director and internal auditor. Trustee responsibilities include establishing asset allocation, investment guidelines and performance benchmarks.