The board of trustees of the $156.4 billion Texas Teacher Retirement System, Austin, will discuss a succession plan to replace CIO Jerry Albright at its Dec. 12-13 meeting.
Mr. Albright intends to step down from his position but remain with the system in an as yet undetermined position, said a source with knowledge of the situation who asked not to be named.
Robert Maxwell, a TRS spokesman, declined to comment on Mr. Albright's plans. Mr. Albright has served as CIO since 2016.
In an email statement, Mr. Maxwell said the system "has in place a plan designed to ensure continuity of high quality leadership for its Investment Management Division and other key positions at TRS."
He confirmed that the board will consider succession planning as it relates to the CIO position, but added, "TRS is unable to provide further details on exact timing of potential changes to the IMD succession plan since those details are subject to board deliberation and decision."
Mr. Albright did not respond to a call seeking more information about his plans.
