DEFINED BENEFIT

LACERS’ general manager to retire

Thomas Moutes, general manager for the $15.5 billion Los Angeles City Employees’ Retirement System, will be retiring, Mr. Moutes confirmed.

He has not set a date but expects to retire before the beginning of next year, Mr. Moutes said. The board has launched a search. The city’s personnel department is conducting the search.

Mr. Moutes joined LACERS in 2001. He has served as general manager since 2010.