The $1.7 billion Maryland Teachers & State Employees Supplemental Retirement Plan, Baltimore, will begin a search soon for an executive director to replace Art Caple, who died in May, said Michael Halpin, deputy executive director. Trustees are conducting the search in conjunction with the Maryland Department of Personnel, Mr. Halpin said.
Fred Puddester, chairman of the board of trustees, said the ideal candidate will have at least five years of experience in administration of a deferred compensation plan. A background in financial management - budgeting or investments - will be a plus.
"We're looking for someone that can run a relatively small state agency ... but at the same time has experience that would be helpful in running a $2 billion deferred compensation program," Mr. Puddester said. More information will be available soon on the plan's website, www.msrp.state.md.us.
The system hopes to have the new executive director on board sometime in the fall. he said.