Colorado Public Employees’ Retirement Association (PERA) Chief Investment Officer Jennifer C. Paquette announced that retirement after 21 years of service at Colorado PERA. She was named on Trusted Insight's Top 30 Pension Fund Chief Investment Officers in January.
Colorado Public Employees’ Retirement Association (PERA) Chief Investment Officer Jennifer C. Paquette announced that she will retire from PERA in the first quarter of 2017.
“It has been a pleasure and privilege to lead the investment team that has contributed meaningful results to our members,” said Paquette. “We have had many accomplishments, including beating our policy benchmark since its inception in 2004.”
Paquette came to PERA in 1995, when she served as the Director of the Fixed Income Division and as a Senior Fixed Income Analyst. She was named PERA’s Chief Investment Officer (CIO) in 2003. During Paquette’s tenure with PERA, the assets under management grew from $29 billion to $44 billion. Prior to PERA, Paquette held positions with Merrill Lynch Pierce, Fenner & Smith; Alliance Capital Management; and Mitchell Hutchins/PaineWebber.
“Under Jennifer's leadership, the fund has achieved top quartile performance versus peer retirement funds over the last one-, five-, and 10-year periods,” said Gregory W. Smith, Executive Director/CEO of PERA. “Jennifer’s skills and experience as an investment professional and a member of our executive team will be missed. It will be no small task to find a new CIO, but Jennifer has developed a highly seasoned investment management team that will remain focused on day-to-day portfolio management and oversight of the fund.”
PERA will be immediately taking steps to identify Paquette’s replacement. The organization is in the process of retaining a search firm to manage the process.
“For more than a decade, Jennifer has provided sound leadership to the investment team at PERA, and been a trusted, prudent resource to the Board of Trustees,” said Susan Murphy, PERA Trustee and Chair of the Investment Committee. “With her guidance, as well as her sharp focus on serving PERA’s 547,000 beneficiaries, the organization has developed a highly disciplined risk and portfolio management process.”
Colorado PERA provides retirement and other benefits to more than 547,000 current and former teachers, State Troopers, corrections officers, snow plow drivers, and other public employees who provide valuable service to all of Colorado. PERA is a vital and stable contributor to Colorado’s economy, distributing $3.7 billion in 2015 to retirees who live in Colorado. PERA is one of Colorado’s best investments.