Theodore Eliopoulos, the chief investment officer of the California State Employees’ Retirement System (CalSTRS), is stepping down at the end of 2018.
Eliopoulos made the announcement Monday morning (May 14) at the CalPERS Investment Committee meeting in Sacramento, California.
With almost $350 billion in assets under management, CalPERS is the largest defined benefit pension plan in the US.
Eliopoulos said he wants to spend more time with his family, including an older daughter who lives in New York City.
Eliopoulos became CIO in 2014 following the death of Joseph Dear, the prior CIO. At the time, Eliopoulos headed CalPERS’s real estate investment program.
CalPERS officials say they will conduct a national search for a replacement immediately.