The New York State Common Retirement Fund, Albany, posted hiring notices for a deputy chief investment officer and for a director of the 529 College Savings Program, according to the website of Thomas DiNapoli, the state comptroller and sole trustee of the $215.4 billion fund.
There is no specific timetable for filling either job, although spokesman Matthew Sweeney said Monday in an email that the fund wants to hire the executives "as soon as possible." The hiring notices will remain in effect "until a candidate is fully vetted and a tentative offer is made."
Navyug Patel is the interim deputy CIO, having held the job since July 2018 when former deputy CIO Anastasia Titarchuk was named interim CIO to replace Vicki Fuller, who retired. Ms. Titarchuk was named permanent CIO in August.
For the 529 College Savings Program, the pension fund is seeking a successor to Anne DelPlato, who will retire in the spring as the plan's director, Mr. Sweeney said. She will remain director until a replacement is hired, and she will help her successor for several months during the transition period, he said.
The 529 College Savings Program offers two plans: a direct plan sold by the program and an adviser plan sold exclusively through financial advisers, which has different investment options and higher fees.
The direct plan has $27.3 billion in assets with about 890,000 accounts, Mr. Sweeney said. The adviser plan has $5.8 billion in assets with some 213,000 accounts.
Ms. DelPlato also is director of the NY ABLE, with $6.25 million in assets with about 1,000 accounts, Mr. Sweeney said.
Her successor will also become director of NY ABLE, which allows people to save for qualified disability expenses without losing their benefits from Medicaid and other assistance programs such as supplemental security income.
In the program, participants contribute to a tax-deferred account, and they can withdraw amounts for tax-free for qualified expenses related to an eligible individual's disability.