Marzion to Fill in as CalPERS Chief

May 12, 2008 ( - The California Public Employees' Retirement System (CalPERS) Board of Administration announced today that it has named veteran executive Kenneth W. Marzion as Interim Chief Executive Officer.

Marzion, a 32-year veteran CalPERS leader, most recently served as Assistant Executive Officer of the Actuarial and Employer Services Branch, responsible for providing services to more than 2,500 state, school, and public agency employers, the announcement said. His career includes posts in three other divisions – Fiscal Services, Member Services, and Benefit Services.

Former chief executive officer Fred Buenrostro Jr. announced at the end of April he would step down to pursue opportunities in the private sector (See CalPERS CEO Becomes Second Recent Exec Departure ).

Buenrostro was the second executive CalPERS lost within a week as chief investment officer, Russell Read, announced just days before the Buenrostro announcement he will step down at the end of June (See CalPERS CIO Announces Resignation ).