STRS announces new executive director

From STRS, June 19, 2008

During its June 19, 2008, meeting, the State Teachers Retirement Board voted unanimously to name Michael (Mike) J. Nehf as the ninth executive director of the State Teachers Retirement System of Ohio (STRS Ohio). Nehf is currently the executive director of the Employees' Retirement System of Georgia (ERSGA), where he is responsible for the administration of 11 different benefit plans with total assets of $16 billion. Nehf will succeed Dr. Damon Asbury, who is retiring effective June 30, 2008.

Before joining ERSGA in January 2005, Nehf was the executive director of the Public School Teachers' Pension & Retirement Fund of Chicago for 10 years. He also served as an elected school board member for eight years in Illinois. Other past positions include serving as comptroller for the Municipal Employees' Annuity & Benefit Fund of Chicago, and accounting and finance positions primarily in the life and health insurance sectors.

In announcing the Retirement Board's decision, Jeffrey Chapman, board chair, noted, "Mike brings a wealth of public pension fund experience to STRS Ohio. He is knowledgeable about the challenges facing public retirement systems and he is committed to applying that knowledge to address the issues that are of most importance to our members - namely secure health care and continued pension solvency. His past experience working with public plans, including a teachers' fund, and his demonstrated commitment to defined benefit plans will serve us well.

"As we reflected on what we wanted in our next executive director, my board colleagues and I certainly wanted someone who would continue to maintain the trust and confidence of our members and the strengthened dialogue we have with the members of Ohio's General Assembly. Mike is that individual. He'll be a 'hands on' leader who knows how to build consensus on tough issues, whether he's working with members, legislators, the board or our STRS Ohio associates."

Nehf will take over the leadership of STRS Ohio on July 1. The Ohio Attorney General's Office assisted in developing his contract, which provides for a starting annual salary of $225,000. The three-year contract extends through June 30, 2011.

At ERSGA, Nehf and his staff of more than 100 individuals serve as an overall umbrella agency by administering separate defined benefit (public employees, legislators, judges, public school, military, life insurance); defined contribution (part-time employees); 401(k) and 457 deferred compensation; and state Social Security programs. About $900 million in benefits are paid annually.

Nehf is a certified public accountant (CPA). He received his bachelor's degree in accounting from Western Illinois University and his master of management degree from the J. L. Kellogg Graduate School of Management at Northwestern University. He and his wife, Kathy, have grown children who reside in the Chicago, Rochester, Minn., and Atlanta areas. His wife is a Reading Recovery teacher.

The Retirement Board was assisted in its search for an executive director by the Columbus-based firm, Hudepohl and Associates.