Michael H. Mulhern resigned as executive director of the MBTA Retirement Fund, effective Aug. 5.
In his resignation letter to James M. Evers, retirement fund board chairman, on Monday, Mr. Mulhern wrote he was stepping down with “decidedly mixed emotions.”
Former Massachusetts Attorney General Martha Coakley and others have called on the roughly $1.6 billion Boston-based pension fund for improved transparency after failing to disclose a $25 million loss with Fletcher International in 2012 for more than two years. The money manager filed for Chapter 11 bankruptcy protection in June 2012, ultimately bringing the investment value down to zero.
Last year, financial analyst and fraud examiner Harry Markopolos co-authored a report alleging inaccuracies in the fund’s earlier financial statements.
Mr. Mulhern said in the letter that he was “proud” of the fund’s “increased transparency” and maintained that Mr. Markopolos’ allegations were unfounded.
Any decisions on an interim or permanent replacement will be determined by the pension fund board, said Steve Crawford, a spokesman for the retirement fund. The board meets again on June 17.
Mr. Mulhern did not return a telephone call seeking comment by press time. Mr. Evers declined to comment on Mr. Mulhern’s resignation.