Terry Slattery was named executive director of the $2 billion Iowa Municipal Fire & Police Retirement System, West Des Moines.
He resigned as executive director of the $11 billion New Mexico Public Employees’ Retirement Association, Santa Fe, in a letter to the PERA board on Tuesday, said Nancy Hewitt, PERA chairwoman.
The PERA board at its meeting Thursday accepted his resignation, Ms. Hewitt said. He will leave the New Mexico fund Oct. 14, she added.
At the Iowa fund, he will replace Dennis L. Jacobs, who plans to retire in January.
EFL Associates, an executive search firm hired by the Iowa system, recruited Mr. Slattery, Ms. Hewitt said.
“His is from the Midwest … I think it’s a personal decision to be closer to family,” Ms. Hewitt said.
She doesn’t expect any other changes among the PERA professional staff.
Messrs. Slattery and Jacobs could not be reached for comment.
Ms. Hewitt said the PERA board expects to begin a national search soon. The board could make a decision on the search process, including possibly hiring an executive search firm, in the next few days. The board is scheduled to meet Oct. 11.
“We would like to fill the position by the end of the year, but that might not be possible,” Ms. Hewitt said.
In the interim, Mr. Slattery’s duties will be taken up by either Kurt Weber, deputy executive director-operations, or Mary Frederick, deputy executive director-member services, or divided between both, Ms. Hewitt said. She expects the board to decide at the Oct. 11 meeting or sooner.