Indiana’s Largest Pension Funds Announce Executive Director

May 11, 2010 ( - Steve Russo has been selected to lead Indiana's two largest public pension systems with combined assets of more than $22 billion and membership of more than 380,000.

Russo was named Executive Director at the May 10 joint meeting of the boards of trustees of both the Indiana Public Employees’ Retirement Fund (PERF) and the Indiana State Teachers’ Retirement Fund (TRF). Formerly executive director of TRF since 2008, Russo was hired to lead both funds as a result of House Enrolled Act 1205 (2010) that requires the boards of trustees to appoint a common director, according to a PERF press release.  

Russo is a graduate of Purdue University. Prior to joining TRF, he held numerous leadership positions during a 19-year tenure at technology company Thomson in Indiana and South America.  Russo also worked for seven years in various engineering and finance positions for the U.S. Department of Defense at the Naval Avionics Center in Indianapolis.   

“PERF and TRF have both established outstanding member service, and I look forward to building upon this. The funds will remain two distinct entities, no major policy changes are anticipated, and we will continue to look for opportunities to increase the efficiency and investment returns of both funds,” Russo said in the press release.