Carmen Racy-Choy resigned as chief investment officer of the San Jose (Calif.) Federated City Employees' Retirement System and the San Jose Police and Fire Department Retirement Plan, effective July 31, city spokesman David Vossbrink confirmed Friday.
The two pension funds have a combined $4.6 billion in assets: $2.75 billion in the police and fire plan, and $1.88 billion in the employees plan.
Mr. Vossbrink said he did not know Ms. Racy-Choy's plans; she did not return calls for comment.
Ms. Racy-Choy is the second high-ranking pension executive at the San Jose systems to step down this summer. CEO Russell Crosby announced his retirement about a month ago.
Mr. Vossbrink said a search is under way to fill both positions. He said the boards for both systems have discussed the possibility of an interim director, but no decision has been made.