Bruce O. Kallos, executive director of the $1.1 billion Arlington County (Va.) Employees' Retirement System, resigned yesterday following a trustees' meeting. He was placed on administrative leave last month after an audit uncovered questionable travel and entertainment expenses.
In a brief statement, Steven Ivins, president of the system, said, "We have reached a satisfactory settlement on outstanding issues." Mr. Ivins could not be reached by press time to discuss the system's plans for replacing Mr. Kallos, but Steve Watts, assistant director/pension officer, is handling investment matters.
Mr. Kallos didn't return two phone calls seeking comment.