The $79.9 billion State Teachers Retirement System of Ohio (STRS Ohio) has issued a request for proposal (RFP) for an executive search firm consultant to help find a new executive director to replace Michael Nehf, who will retire in June 2020. The RFP responses are due by April 30.
The executive director search committee will be comprised of members of STRS Ohio’s retirement board. The boards consists of five elected contributing teacher members, two elected retired teacher members, an investment expert appointed by Ohio’s governor, an investment expert jointly appointed by the state’s speaker of the House and the Senate president; an investment expert designated by the Ohio Treasurer of State; and the Ohio Superintendent of Public instruction or his/her designated investment expert.
According to the RFP, the executive director is appointed by and reports to the STRS Ohio Retirement Board. Responsibilities include:
- Providing strategic direction, planning, and leadership for the organization
- Organizing, developing, and supervising a management team to provide superior customer service and investment results
- Maintaining oversight of investment and administrative operations
- Serving as the primary interface with the retirement board
- Establishing connections to stakeholders, including retiree groups, government officials, the investment community, and the public retirement industry
The executive director also oversees investments, finance, member benefits, information technology, government relations, communications, legal issues, human resources, building services, and internal audits.
Nehf has been the CEO and executive director of STRS Ohio since 2008. Before he joined STRS Ohio, he was executive director of the Employees Retirement System of Georgia from 2005 to 2008, and prior to that he was executive director of the Chicago Teachers’ Pension Fund from 1994 to 2004.
STRS Ohio serves nearly 500,000 active, inactive, and retired Ohio public educators, and offers a defined benefit plan, a defined contribution plan, and a combined plan. In fiscal year 2018, STRS Ohio paid more than $7 billion in service retirement, disability and survivor benefits, plus $517 million for optional health care coverage.
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