CalPERS CEO Anne Stausboll to Retire at Fiscal Year-End After More Than 7 Years
January 21, 2016
Communications & Stakeholder Relations
Brad W. Pacheco, Deputy Executive Officer
SACRAMENTO, CA - Anne Stausboll, Chief Executive Officer (CEO) for the California Public Employees' Retirement System (CalPERS), today announced she will retire as the head of the nation's largest public pension fund on June 30, 2016.
Stausboll will leave the system after serving more than seven years as its CEO following her appointment in January 2009.
"It has been an honor and privilege to serve CalPERS, our Board and staff, and the public employees who serve California," said Stausboll. "Together we have made CalPERS a stronger organization, one that is well positioned to provide retirement and health security for future generations. I'm proud of our progress and ready to explore the next chapter of my life."
Stausboll assumed the helm of CalPERS during a volatile time in the organization's history. CalPERS had lost nearly 30 percent of its investment assets following the Great Recession and found itself embroiled in an ethics scandal by former officials, including its former CEO.
Under her leadership, CalPERS has strengthened ethics, transparency, and internal controls through governance and operational improvements, including:
- Sweeping reforms and laws related to placement agents
- Implementing a risk mitigation policy and an Asset Liability Management program to ensure long-term sustainability of the pension system
- Integrating Environmental, Social, and Governance factors within CalPERS investment portfolio
- Increasing competition and reducing costs in health care
- Establishing the first-ever Chief Financial Officer position to improve financial oversight
- Implementing Enterprise Risk Management and Treasury Management programs with public reporting, and
- Launching my|CalPERS, one of the largest state IT projects that consolidated 49 legacy systems into one consolidated customer service system.
The pension fund also saw its investment assets grow from $170 billion to more than $275 billion during Stausboll's tenure.
"CalPERS is a better organization because of Anne," said Rob Feckner, President of the CalPERS Board. "She led us through a difficult period, and we have emerged as a more accountable, transparent, and smarter institution. We will miss her and we wish her the very best in her future endeavors."
In addition to her role as CEO, Stausboll served as CalPERS Chief Investment Operating Officer since 2004 during a time she was twice tapped to be Interim Chief Investment Officer. She also worked in the pension fund's legal office for six years as a staff attorney and Deputy General Counsel.
The CalPERS Board will conduct an immediate search for her replacement.
For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.7 million members in the CalPERS retirement system and administers benefits for nearly 1.4 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. For more information, visit www.calpers.ca.gov.