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.
