William A. Thielen, executive director of the Kentucky Retirement Systems, Frankfort, plans to retire by the end of 2015, said David Peden, chief investment officer.
Mr. Thielen announced his decision to KRS staff Wednesday and the board of trustees on Thursday, Mr. Peden said.
An executive search firm is expected to be hired. Details of the search have not been determined.
It is expected that Mr. Thielen will stay on until his replacement is found, which could alter the date he leaves.
Mr. Thielen could not immediately be reached for comment about his plans.
KRS administers an $11.5 billion pension fund and $4.1 billion insurance fund.