Department of Retirement Systems director to take new position in October

Posted 14-Jul-2016

Olympia -- Washington Department of Retirement Systems Director Marcie Frost has accepted the position of Chief Executive Officer of the California Public Employees' Retirement System (CalPERS), it was announced today. Frost will start with CalPERS Oct. 3, 2016.

Frost was appointed director of DRS by Gov. Jay Inslee in January 2013. Prior to her appointment, she served in several roles at DRS over a 13-year period, including human resources director, chief information officer, senior assistant director for operations and deputy director.

At DRS, Frost has led a comprehensive program of organizational and cultural change to strengthen agency performance, with emphasis on high levels of customer satisfaction and team member engagement, application of lean principles, process mapping, and workflow improvements.

“Over the past five years, DRS has been on a path of continuous improvement to grow as a customer-focused organization,” Frost said. “I am extremely proud of the dedication, passion and hard work of DRS team members to serve our customers – the men and women who work in state and local government to serve the people of Washington state.”

“Washington’s retirees are on solid financial ground thanks to Marcie’s leadership,” Inslee said. “For the past three years she’s competently managed one of the most complex retirement systems in the country and served as Chair of the State Investment Board. Marcie brought accountability, results, and integrity to her state service.

“It’s clear that Marcie’s leadership has not been a secret kept within our borders. California came at her hard and knew that she was uniquely qualified to run the largest public pension fund in the country. CalPERS is incredibly fortunate to have her as its new CEO. Trudi and I wish Marcie all the best as she takes on this very exciting and much-deserved new chapter in her career.”

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About DRS --The Washington State Department of Retirement Systems serves more than 700,000 current and former public employees in Washington by providing expertise, tools and services to help them prepare for and experience a successful retirement. As the administrator of eight public retirement systems, 15 retirement plans and the Deferred Compensation Savings Program, DRS serves a diverse population of state and local government employees, including fire fighters, teachers and police officers. Retirement benefits earned by these employees result in more than $3.5 billion in payments each year, most of which is distributed in the state of Washington.