CalPERS Announces New Chief Executive Officer
July 21, 2016
Following news in January that current Chief Executive Officer Anne Stausboll would retire on June 30, the California Public Employees’ Retirement System (CalPERS) has announced the hiring of her replacement, Marcie Frost, who will assume the position on October 3.
Frost comes to CalPERS after serving in various positions, most recently Director of the Washington State Department of Retirement Systems (DERS). Her resume includes prior positions in information technology, human resources, and public pension administration. Frost has served as Executive Director of DERS since 2013. It experienced a 4.9 percent return on investments in 2015 and, as of June 2014 is 76 percent funded. She has stated that her focus for CalPERS will be investing in more private equity and real estate.
Doug Hoffner, CalPERS’ Deputy Executive Officer for Operations and Technology, will serve as the Fund’s Interim CEO until October.