NEWS

Dallas ERF’s CIO to depart after 20 years

By Muskan Arora

Cheryl Alston, executive director of the $3.8B Dallas Employees’ Retirement Fund will step down from the role after twenty years at the plan, as stated by a press release on April 14th.

The pension plan’s deputy executive director David Etheridge will step up as acting executive director, starting May 13.

"This is the time in my career to take advantage of the many opportunities available in the business and non-profit arena," said Alston.

"I plan to continue my involvement in corporate boards and the public service arena," she added.


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Parallelly to her role at Dallas ERF, Alston also served as an independent director at Federal Home Loan Bank of Dallas and had a presidential appointment to the Pension Benefit Guarantee Corporation Advisory Committee. 

"Cheryl and her team have provided stable, responsible and creative leadership through two recessions and numerous economic challenges over the past twenty years," said T.Dupree Scovell, ERF Board Chair.  

"Thanks to her leadership, the fund has reduced future liabilities by $2.5 billion and is on the path to being fully funded," added Scovell.

The acting executive director, Etheridge has created a collaboration between the board and the city council that led to the recent passage A proposition, which allowed additional city and employee contributions to the plan to meet state requirements and establish a financial footing for the plan’s future.

Dallas ERF returned 10.6% for 1-year as of February 28.