The Ohio Public Employees Retirement System, which is one of the nation's largest public pension systems, named Richard Shafer as its chief investment officer, replacing John Lane who took the top investment job at Ohio State University.
“Rick Shafer brings more than 40 years of collective investment experience gained in managing public- and private-sector pension investment plans,” said Karen Carraher, OPERS executive director, in a written statement. “I’m pleased that Rick has accepted this leadership position at OPERS. His strong investment background and significant track record will be instrumental as we work to strengthen our asset base and implement investment policy.”
Shafer joined OPERS in 2009, having worked in pension investments in New Hampshire and Alaska as well as the private sector.
OPERS is the 11th largest pension system in the country and has an investment portfolio worth $91.2 billion.