The $21.7B School Employees Retirement System of Ohio has begun its search for a new executive director on the heels of Richard Stensrud’s announcement that he plans to retire in the summer of 2026 during a recent board meeting.
According to a news release, Stensrud’s retirement takes effect June 30, 2026, and executive search firm Hudepohl & Associates, has been tapped to lead the recruitment effort for his replacement.
Under Stensrud’s leadership, the pension fund improved from 70% funded over 27 years in fiscal year 2017 to 79% funded over 19 years in FY2025, with assets rising from $14.4B in FY2017 to $21.0B in FY2025, noted the release.
“During his nine-year tenure, Stensrud strengthened trust and credibility with stakeholders and policy makers,” it said.
Stensrud joined the pension plan in 2017, succeeding Lisa Morris who left the pension fund to serve as a senior project consultant at Funston Advisory Services. He moved to Ohio after working as the chief executive officer at the Sacramento County Employees Retirement System. He was succeeded by Eric Stern.
Earlier in his career, he served as CEO/plan administrator at the $1.4B Merced County Employees’ Retirement Association and has held general counsel and senior policy advisor roles for the Missouri Consolidated Health Care Plan, Teachers’ Retirement System of Illinois, and Public School and Education Employees Retirement System of Missouri.
