Mark Hovey, SDCERS’ Chief Executive Officer, Will Step Down December 1

Date: Sep 05, 2017

 

The San Diego City Employees’ Retirement System Chief Executive Officer has informed the Board that he will step down effective December 1, 2017.  Mr. Hovey’s plans are to retire after serving for eight years as the CEO of the pension fund system that manages approximately $8 billion in assets for the benefit of over 20,000 members.
 
Under Mr. Hovey’s guidance, SDCERS has become a model of best practices for public pension plans across the country in the areas of governance, finance, investments, information technology, and member services.  He has become a resource on public pension plans and issues.  Most recently, Mr. Hovey chaired the California Association of Public Retirement Systems (CALAPRS) board and received the Most Admired CEO award from the San Diego Business Journal in 2015.
 
SDCERS Board President Valentine Hoy said, “Mark Hovey has been a tremendous leader of SDCERS.  He was the right person at the right time.  On his watch the system not only regained its financial strength, it made huge improvements in administration and management that launched SDCERS from the back of the pack to the top echelon of public pension funds of its size.  The Board deeply appreciated Mark's calm demeanor and long term perspective.  We will miss him."
 
Mr. Hovey stated, “I am very proud of the solid work done by many dedicated staff and Board members that have served SDCERS.  In the last several years, SDCERS has faced difficult challenges, and no organization has accomplished more.  SDCERS has overcome limitations and has focused on corrective measures to ensure a strong foundation is in place, and to ensure our pension system continues on a sound basis. Today, SDCERS is a leader utilizing best practices within the pension industry, and the organization’s integrity and credibility are top notch.”
 
SDCERS is a trust fund administered by the Board of Administration for three plan sponsors:  the City of San Diego, the San Diego Unified Port District and the San Diego County Regional Airport Authority.




Document Under Categories: Board, News Articles, Press Release

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