The board shall have a membership of at least nine persons recommended by the board and appointed by the governor. Each member serves a term of three years, not to exceed three consecutive three year terms. Former board members may be reappointed after an absence of one year. Members are state employees. A representative from the employee association representing the largest number of state employees may also have a seat on the board. The board of directors has the responsibility to establish and implement all policies, procedures and processes necessary to carry out the purpose of the fund.