Ohio Retirement System Announces CEO Departure

February 7, 2011 (PLANSPONSOR.com) - The Ohio Public Employees Retirement System (OPERS) announced that Chris DeRose, OPERS chief executive officer, has resigned.

He has accepted a position in the private sector as Vice President of Client Services for Strategic Accounts for Ingenix, a health care consulting firm. DeRose and the Board of Trustees will work on a transition plan and mutually agreed upon departure date. Until his departure, DeRose will remain as CEO.  

According to the announcement, DeRose joined OPERS in October 2006 after nine years as chief executive officer of the Michigan Office of Retirement Systems. Working with OPERS’ Board, he led the development of a comprehensive, five-year strategic plan that addressed the changing nature of retirement and OPERS’ ability to meet future retirees’ needs.   

Most recently, the OPERS Board proposed raising members’ retirement age, altering the formula to calculate benefits, and other substantive recommendations to maintain OPERS’ ability to provide pensions with no increase in public employer contributions. The Ohio Legislature is considering the Board’s recommendations.  

“Chris has been an important part of our organization. He has had many accomplishments and worked very hard for our members and retirees during one of the most difficult economic times in our system’s history,” said Ken Thomas, chairman of the OPERS Board of Trustees, in the announcement. 

With assets of $75.7 billion as of December 31, 2010, OPERS provides retirement, disability and survivor benefits for public employees throughout the state and serves nearly 954,000 members, including more than 171,500 retirees and beneficiaries.