Gregg Rademacher, CEO of the Los Angeles County Employees Retirement Association (LACERA), announced his retirement from the fund Thursday, effective October 1.
Rademacher joined the fund in 1991. In 1996, he was appointed as the assistant executive officer. In 2006, Rademacher was appointed to CEO, where he was instrumental in leading the organization through various strategic initiatives that, according to a news release, “modernized all facets of LACERA’s operations, including the deployment of advanced information technology solutions and the continuous improvement of service delivery and quality.”
“LACERA’s membership grew by over 23% during Mr. Rademacher’s tenure as CEO,” Board of Retirement Chair Shawn Kehoe said in a statement. “His commitment to our members enabled LACERA to improve its member service during this time of growth.”
While an immediate replacement for Rademacher was not announced, assistant executive officer Robert R. Hill —who joined the organization in 1994, serving various senior roles before receiving his title in 2001—will serve as the interim CEO.
“Under Mr. Rademacher’s steady stewardship through the ups and downs of the financial markets,” Board of Investments Chair David Green said in a statement. “LACERA’s assets grew from $32 billion in 2006 to over $53 billion today, helping ensure benefits today and tomorrow.”