R. Dean Kenderdine, executive director of the $58.1 billion Maryland State Retirement & Pension System, Baltimore, is retiring.
Mr. Kenderdine, who has been in the role since 2007, will step down on June 30, the system said Monday.
"It has been my great privilege to serve the people of Maryland for more than 40 years, and I have had the honor of doing so alongside so many outstanding, dedicated, and talented women and men who have devoted their careers to the service of our state's citizens," Mr. Kenderdine said in a news release. "To have spent the last 14 years of my time working to ensure the retirement security of those same public servants in state and local government is the most rewarding culmination of my career I could have imagined."
The system's board of trustees, which appoints the executive director, is expected to begin the process of searching for a replacement in time for Mr. Kenderdine's retirement, according to the news release.
Treasurer Nancy K. Kopp, chair of the board, said in the news release that replacing Mr. Kenderdine will be a tall order. "Whether or not employees and retirees have had the opportunity to cross paths with Dean and experience his commitment firsthand, he has worked diligently every day to help to secure their retirement benefits; the board will certainly be challenged to find an equivalent successor," she said. "We wish Dean all the best in his well-deserved retirement."
While serving as the system's executive director, Mr. Kenderdine has been an active member of the National Association of State Retirement Administrators — including more than six years on its executive committee — and the National Council on Teacher Retirement. He also serves on the board of the International Foundation of Employee Benefit Plans.