Chicago Laborers' executive director set to retire

James Capasso Jr. is retiring as executive director of the $1.4 billion Chicago Laborers' Annuity & Benefit Fund, effective Friday, according to recently released minutes of the Oct. 25 board meeting.

An interim replacement was not named in the minutes and Mr. Capasso did not return a telephone call and e-mail by press time.

On Monday, the pension plan issued an RFP for an executive search firm to assist in finding a new executive director. The RFP is available on the fund's website. Proposals are due by 4:30 p.m. CST on Dec. 7, according to the RFP, with a hiring decision expected in late January.

Separately, the board on Oct. 25 approved issuing RFPs for a global custodian and auditor, according to the minutes. Additional information was not provided. The RFPs will be posted on the pension fund's website. The current custodian is Northern Trust, and the auditor is Calibre CPA Group, according to the fund's 2011 annual report.