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 for more than 1.9 million California public sector workers and their families and purchases health care for more than 1.4 million public sector employees.
Marcie oversees a global investment portfolio of more than $350 billion, approximately 2,800 employees, and manages an annual budget of $1.8 billion to administer the system. Since joining CalPERS, her focus has been on improving the funded status of the plan, member services delivery, and enterprise performance management.
She has dedicated the majority of her career to public service, having spent 30 years as a public servant in Washington State. Marcie's early leadership roles were in human resources with an emphasis on employee benefit programs and information technology. She later was named executive director of the Washington State Department of Retirement Systems, where she demonstrated strong leadership and innovation, an emphasis on customer satisfaction, and team collaboration.
In 2013 she was tapped by Washington State Governor Jay Inslee as cabinet lead for the Results Washington performance and accountability system, where she served as an early creator and architect for the platform that tracks goals and progress in education, the state's economy, sustainable energy, healthy and safe communities, and efficient government.
Marcie served on the Washington State Investment Board as an ex-officio voting member for four years and served as its chair until she joined CalPERS. The board manages more than $120 billion in assets for 17 retirement plans.
She has also served as chair of the Pension Funding Council, responsible for setting economic assumptions and pension contribution rates for the state's pension plans; was a member of the Technology Services Board in Washington that oversees the state's IT projects with a measurable focus on business alignment, security, open data, transparency, and mobility goals; and was a voting member of the Washington State Legislature’s Select Committee on Pension Policy.
Marcie represents the United States on the International Centre for Pension Management Board of Directors.
She has been a guest speaker providing case studies at the University of Washington's John L. Evans School of Management and Evergreen State College on leadership, organizational culture, and performance management systems.