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Minnesota Teachers Retirement Association appoints executive director

Jay Stoffel was named executive director of the $20 billion Minnesota Teachers Retirement Association, St. Paul, effective Sept. 1.

He will replace Laurie Fiori Hacking, who is retiring on Dec. 31. His appointment will allow for a transition period, according to a news release from Minnesota TRA.

Mr. Stoffel is deputy executive director at the pension fund. He previously was executive director of the $210 million Duluth (Minn.) Teachers Retirement Fund Association, which was merged into Minnesota TRA in 2014.

The executive director oversees administration of the pension fund; the $89.5 billion Minnesota State Board of Investment, St. Paul, manages its assets.