Chief Executive Officer

Marcie Frost joined CalPERS as chief executive officer (CEO) in October 2016. She is the ninth CEO and second woman to head the Pension Fund, which administers a defined benefit retirement system and purchases health care for more than 1.4 million California public sector workers and their families. CalPERS oversees a global investment portfolio of approximately $300 billion, has approximately 2,800 employees, and operates on an annual budget of $1.8 billion.

Marcie brings more than 16 years of pension industry leadership, information services expertise, and executive management experience to her role. She came to CalPERS from the Washington State Department of Retirement Systems (DRS), where she served as executive director and demonstrated strong leadership and innovation, an emphasis on customer satisfaction, and team collaboration.

Prior to being appointed executive director, Marcie served four years as DRS' director. Before that she served in a number of other leadership capacities at DRS in human resources, information services, and operations.

Marcie began her public service career as a benefits administrator with the Washington State Department of Labor and Industries.

She is pursuing dual bachelor’s and master’s degrees in public administration.