CalPERS Appoints a New CFO

By Muskan Arora

The $501.39 California Public Employees’ Retirement System has promoted Michele Nix as the chief financial officer (CFO), effective immediately.

Nix has been serving as an interim CFO since August 2022, following ex-CFO Michael Cohen’s appointment as fund’s chief operating investment officer.

"Michele was chosen for this position because of her financial expertise, excellent leadership skills and longstanding commitment to CalPERS,” said CEO Marcie Frost in an announcement.

"She has proven to be an invaluable asset to our financial office, which contributes to the stability of our fund for CalPERS members and their families,” Frost added.

Nix will be reporting to Frost.

Nix oversees the daily operations of the pension fund's Financial Reporting & Accounting Services Division; Financial Planning, Policy & Budgeting Division; and Pension Contracts & Prefunding Programs Division. She manages all the financial processes including budgeting, accounting, cash management, financial planning and analysis, prefunding programs, 115 Trusts, and pension contracting.

Prior to joining CalPERS, she served as a member of board of directors at the public pension financial forum for almost sixteen years.

Before that she was the director of finance at the City of Columbia Missouri for almost three years.

She has previously worked as a CFO for two year (2014-2016) at the Missouri State Employees Retirement System. 

(Image: Michele Nix's LinkedIn)