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Pension Funds

LACERA chief executive to retire

Gregg Rademacher, CEO of the Los Angeles County Employees Retirement Association, Pasadena, Calif., is retiring effective Oct. 1.

Robert R. Hill, assistant executive officer will serve as the interim CEO, a spokesman for the $52.5 billion pension fund said.

The board plans to hire a search firm to launch a comprehensive national search for Mr. Rademacher's replacement, but no firm has yet been selected, the spokesman said.

Mr. Rademacher joined LACERA in 1991 and has served as CEO since 2006.

"I deeply appreciate the opportunity to have served LACERA and its members these past 26 years in fulfilling LACERA's important mission," Mr. Rademacher said in a written statement in a LACERA news release. "The organization is well-positioned for continued success."

Mr. Rademacher could not be reached for comment or further information.