The Iowa Public Employees’ Retirement System placed two executives, including its CEO, on administrative leave pending the completion of separate investigations concerning allegations of misconduct, an IPERS spokesperson said.
IPERS CEO Greg Samorajski and Chief Benefits Officer Steven Herbert were placed on leave on March 31 and April 1, respectively, according to the spokesperson. Elizabeth Hennessey, the pension fund’s general counsel, has been appointed as acting CEO.
“These situations do not pose any risk to the IPERS Trust Fund and do not impact benefit payments to our members,” a spokesperson for IPERS wrote via email. “Due to the confidential nature of this situation, I cannot provide any further information at this time.”
IPERS managed $46.68 billion in assets as of June 30, 2025. The system provides retirement benefits for more than 400,000 beneficiaries.
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Tags: Greg Samorajski, Iowa Public Employees' Retirement System, IPERS