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Sacramento, CA - James D. Mosman, Chief Executive Officer of the California
State Teachers' Retirement System, announced his resignation today. Mosman,
52, leaves in December to become Executive Director of the National Council
on Teacher Retirement.
"I have immensely enjoyed my 30-year career in state government,
and the 12 years with CalSTRS have been the most rewarding," said
Mosman. "I am particularly proud of the improvement in benefits and
services to the active and retired members. However, it is time to move
on, and NCTR will give the opportunity to focus on pension issues at the
national level."
The Teachers' Retirement Board will discuss a proposed selection process
at its July 12 meeting. If approved, the plan calls for the new CEO to
be picked by the end of the year.
Mosman has directed the nation's third largest pension fund since November
1988. During his tenure, the investment portfolio grew from $24.3 billion
to $105 billion and membership increased by approximately 220,000 persons
to the current 661,000 members and benefit recipients.
CalSTRS administers retirement, disability and survivor benefits for
California's public school educators in grades kindergarten through community
college. The system has an operating budget of approximately $56 million
and 525 employees.
Prior to coming to CalSTRS, Mosman was director of the California Department
of Personnel Administration from 1985 to 1988 and served on the California
Public Employees' Retirement System board during that period. His career
in state government began in 1971.
Mosman will head the National Council on Teacher Retirement, an independent
association dedicated to safeguarding the integrity of public retirement
systems for teachers. The organization's membership includes 67 state,
territorial, local and university pension systems. Currently located in
Austin, Texas, the headquarters office will move to Sacramento by the
end of 2001.
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