CalSTRS, the giant $105bn California State Teachers' Retirement System, is looking for a new chief executive following the resignation of James Mosman, who is leaving the fund to join the US based National Council on Teacher Retirement.
Mosman, who leaves CalSTRS in December, has been the pension fund’s chief executive for the past 12 years. The CalSTRS board will discuss a proposed selection process at its July 12 meeting. If approved, a successor to Mosman could be picked by the end of the year.
During Mosman's time as CalSTRS chief the fund has seen its total assets quadruple. In 1988 the fund had $24.3bn in retirement assets. CalSTRS has 525 employees and an operating budget of $56m.
The National Council on Teacher Retirement is an independent association representing 67 public retirement systems for teachers. The organisation, currently based in Texas, plans to relocate its headquarters to Sacramento by the end of the year.
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