The California Public Employees’ Retirement System (CalPERS) has appointed a permanent CEO to replace Anne Stausboll.
Marcie Frost, executive director at the Washington State Department of Retirement Systems (DRS), will begin her role as CEO of the $301 billion public pension on October 3, 2016.
Deputy executive Doug Hoffner will continue to serve as interim CEO until then.
Stausboll, the fund’s CEO of seven years, retired at the end of June.
As Stausboll’s successor, Frost will oversee CalPERS’ operations, budget, and programs including benefits administration and investments.
“Marcie is a seasoned public pension fund administrator and we couldn’t be happier that she will lead the fund and be part of our CalPERS family,” said Rob Feckner, president of the CalPERS board. “She has demonstrated throughout her career strong leadership and innovation, an emphasis on customer satisfaction, and team collaboration that will be fundamental to the future of CalPERS.”
The decision by the board to hire Frost was unanimous, Feckner added.
Frost is pursuing dual bachelor’s and master’s degrees in public administration from Evergreen State College.
Related: CalPERS CEO to Depart & CalPERS Names Operations Deputy as Interim CEO