Wisconsin Finds a Replacement for Mills

May 14, 2007 (PLANSPONSOR.com) - Keith S. Bozarth, currently CEO of the Orange County Employees Retirement System in California, has been appointed executive director of the State of Wisconsin Investment Board (SWIB).

Bozarth has had fifteen years of experience with four public pension systems including the Teachers’ Retirement System of Illinois and both the State Employees’ and Public School Retirement systems in Missouri. According to a press release, his experience includes nine years in a CEO role with oversight of both the investment and benefit functions.

SWIB conducted a wide-ranging search which it says generated a large field of very skilled and experienced applicants from both the public and private sectors. Trustees engaged the services of executive search firm EFL Associates to conduct the search.

Bozarth is replacing David Mills who became Executive Director in 2003. Earlier this year Mills announced his intention to retire upon appointment of a successor, but has agreed to remain available to assist through the transition. Bozarth will begin his duties at SWIB on June 25.

Assets under management at SWIB are $93 billion, including the nearly $87 billion in trust funds of the Wisconsin Retirement System (WRS), which provides benefits to over 533,000 current or former employees of state agencies, the university system, school districts and most local governments.

The WRS is the 9th largest US public pension fund and the 24th largest public or private pension fund in the world.