William E. Mabe, executive director of the Illinois State Universities Retirement System, Champaign, plans to retire effective March 31, said a statement Monday from the retirement system.
SURS oversees $17.2 billion in defined benefit assets and $1.5 billion in 401(a) defined contribution assets.
Mr. Mabe gave an early notice to provide “the board ample time to conduct a thorough search for the next executive director” the statement said.
A search committee has been appointed and is “moving forward,” Lindsay Anderson, SURS board chairwoman, said in the statement. Ms. Anderson praised Mr. Mabe “as a strategic thinker and member-focused leader” in the statement.
Mr. Mabe joined the retirement system in June 2010. He was CEO of the then-$17 billion Ohio Bureau of Workers' Compensation, Columbus, from 2005 to 2007. After leaving the bureau, he worked as an independent consultant to public pension funds and insurance companies.
Information on whether SURS would search for an executive recruiting firm to assist in a search for executive director candidates was unavailable. SURS hired EFL Associates to assist in the search that resulted in the hiring of Mr. Mabe.
Mr. Mabe and other SURS officials couldn't be reached for comment.