Diane D'Alessandro will retire effective Dec. 31 as executive director of the New York City Employees' Retirement System, one of five pension funds within the New York City Retirement Systems.
“After nearly 11 years as executive director, the time is right for me to pursue something new,” Ms. D'Alessandro wrote in a Sept. 14 message to NYCERS employees. NYCERS provided a copy of the message Monday after Pensions & Investments requested it.
NYCERS accounts for $53.3 billion of the total $163.1 billion in New York City Retirement Systems assets.
Asked about a replacement for Ms. D'Alessandro, Karen Mazza, deputy executive director of NYCERS, wrote in an e-mail: “The Board of Trustees is in the process of determining how they want to proceed. We have no information on that at this time.”
Tyrone Stevens, a spokesman for city Comptroller Scott M. Stringer, did not respond to requests for comment by press time. Mr. Stringer is a trustee of NYCERS and the fiduciary of the five pension funds in the New York City Retirement Systems.
"Diane has done an excellent job at the helm of NYCERS," said John Adler, chairman of the NYCERS board of trustees, in an e-mail. "The NYCERS board is committed to conducting an in-depth search to identify the best candidate to take her place and continue NYCERS’ performance as one of the best retirement systems in the country," Mr. Adler added.
Mr. Adler also is director of New York City Mayor Bill de Blasio's office of pensions and investments, and he is the mayor's chief pension investment adviser.