June 10, 2024

Communications & Stakeholder Relations
Office of Public Affairs
(916) 795-3991 - newsroom@calpers.ca.gov

SACRAMENTO, Calif. – CalPERS CEO Marcie Frost today announced that Michele Nix has been named as the pension fund’s chief financial officer, effective immediately.

Nix has served as interim CFO since August 2022, stepping into the position after former CFO Michael Cohen was appointed to be the fund’s chief operating investment officer.

"Michele was chosen for this position because of her financial expertise, excellent leadership skills and longstanding commitment to CalPERS," said Frost. "She has proven to be an invaluable asset to our financial office, which contributes to the stability of our fund for CalPERS members and their families."

Under the direction of Frost, Nix manages all of CalPERS’ financial processes, including budgeting, accounting, cash management, financial planning and analysis, prefunding programs, 115 Trusts, and pension contracting. She oversees the daily operations of the pension fund's Financial Reporting & Accounting Services Division; Financial Planning, Policy & Budgeting Division; and Pension Contracts & Prefunding Programs Division.

"I look forward to leading our teams in the financial office as we continue to execute a sound and fiscally prudent budget and offer supplemental savings programs to our members and employers," said Nix.

Nix has more than 27 years of public sector experience, leading organizations in the areas of pension plan administration, financial analysis, investments, accounting, process improvement, financial reporting, treasury management, budgeting, procurement, risk management, auditing, and other related financial areas.

Nix joined CalPERS as the controller in 2018. She previously served as the director of finance for the City of Columbia, Missouri, while also serving as the executive director of both the Columbia Police and Firefighters Pension Fund. She also served the members of the Missouri State Employees’ Retirement (MOSERS) as chief financial officer. Additionally, she has experience in auditing for a CPA firm and working with financial banking institutions of various sizes.

CalPERS will soon begin recruiting for a permanent successor to Nix as controller.

About CalPERS

For more than nine 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 2 million members in the CalPERS retirement system and administers benefits for more than 1.5 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.