Keith Bozarth, executive director of the Illinois Teachers Retirement System, Springfield, will leave the $24 billion defined benefit plan effective March 30 to become CEO of the $5 billion Orange County Employees Retirement System, Santa Ana, Calif. The Orange County CEO position is new. The previous head of the fund, Ray Fleming, held the title of administrator before being let go in the middle of last year.
Mr. Bozarth has headed the Illinois fund since 1998. Before that, he was assistant executive director of the Public School Retirement System of Missouri, Jefferson City.
Illinois TRS also is losing Mark Caplinger, chief investment officer, as of March 1. Kim Pollitt, acting CIO, also will become acting executive director until replacements are found for Messrs. Caplinger and Bozarth. The systems trustees engaged executive recruiters Kennedy & Co. to assist.
The system also is searching for a new general counsel. Richard Stensrud left about a month ago, according to a spokeswoman from TRS, who said she did not know what his plans were.