Lorrie Tingle has retired after more than two decades as chief investment officer of the Mississippi Public Employees’ Retirement System, the organization confirmed.
Tingle exited the fund on June 30 after 23 years, Shelley Powers, its communications director, told CIO in an email. Tingle oversaw the investments department since June 1, 1996, according to the $28.3 billion pension fund’s executive page. Her former spot comes up as “vacant,” meaning she had no successor in place.
Deputy CIO Andrew T. Hoeniges will be the interim investment head until Tingle’s replacement is found.
“We look forward to working with him in this capacity,” Executive Director Ray Higgins said. “Together with our investment consultants, we’ll continue to monitor/manage our portfolio with a focus on continuity during the transition.”
Higgins said the search and other “long-term staffing needs” will be addressed eventually, as Mississippi PERS’s current focus is “continuity and transition.”
The fund is also looking for an internal auditor, according to the executive staff page. It recently promoted Dr. Brian Rutledge, University of Mississippi Medical Center chief of staff, from vice chair to chair of its board of trustees. Chris Howard, executive director of the Mississippi Department of Rehabilitation Services, will succeed him.
The retirement system added $75 million to the Westbrook Real Estate Fund XI, according to Pensions and Investments.
The plan’s allocations as of March 31 were 32.42% international equity, 26.43% domestic equity, 20.09% fixed income, 10.33% real estate, 7.96% private equity, and 2.77% in cash and cash equivalents, according to board minutes from its April meeting.
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