DEFINED BENEFIT

Ann Arbor Employees picks new executive director

Wendy K. Orcutt was named executive director of the $471 million Ann Arbor (Mich.) Employees' Retirement System.

Ms. Orcutt's employment agreement was approved by the retirement system's board during a Dec. 15 meeting, showed minutes released Thursday. Ms. Orcutt took over the role on Dec. 28.

Daniel Gustafson, the system's pension analyst, served as interim executive director beginning in September after Nancy Walker retired on Aug. 31.

Ms. Orcutt was pension administrator for the $400 million City of Dearborn (Mich.) Employees Retirement System. The system intends to replace her shortly, said James J. O’Connor, secretary to the system’s board of trustees.