A TRS news release said Jung had informed the board he would remain as executive director through one more legislative session. Jung will also help with the transition to his successor, the announcement said.
During Jung’s tenure at TRS, the pension fund grew from less than $50 billion to $98 billion, and TRS oversaw successful implementation of a new statewide health care program for active public school employees, according to the news release.
“Maintaining a solvent retirement system is critical to the financial security of our public educators,” said Jung, in the news release. “I am confident that the board and the TRS staff are well positioned to meet the future needs of our members.”
TRS manages a trust fund established to finance member benefits. Nearly 1.3 million public education and higher education employees and retirees participate in the system.