Robert Theller, retirement administrator of the $4.2 billion Fresno City (Calif.) Retirement Systems, will retire Jan. 2, 2026, according to minutes from the Feb. 25 board meeting, which were included with the March 12 meeting packet.
Theller assumed the retirement administrator post in January 2016. Prior to joining CFRS, Theller spent a decade as the senior investment officer of public markets at Ohio Police & Fire Pension Fund, Columbus, which now has about $18.7 billion in assets.
Theller said the boards within the retirement system are currently conducting a salary study, to be followed by an RFP for an executive search team. “They will select the new administrator after they see who applies,” he added. The retirement system comprises the Fresno City Employee Retirement System and the Fresno City Fire & Police Retirement System, each having a separate board.
The retirement system also unveiled a pacing plan for its infrastructure portfolio that envisions annual commitments of $40 million to this asset class through Sept. 30, 2034, according to the agenda of the March 12 board meeting.
The actual allocation of infrastructure is expected to gradually rise from 5.9% currently to 6.9% by Sept. 30, 2034. The fund has a 7% target allocation for infrastructure.
The pension fund returned a net 10.4% for the fiscal year ended June 30, 2024, above the 9.9% return by its benchmark.
