SERS’ Executive Director to Retire

At the December Board meeting, Executive Director Richard Stensrud announced his intention to retire effective June 30, 2026. The Board authorized Hudepohl & Associates, an executive search firm, to administer a national search for SERS’ next executive director. Click here to view the job description and posting.

Stensrud was appointed executive director in 2017 and navigated the pension system through multiple changes and challenges, including the COVID-19 pandemic.

During his nine-year tenure, the System enjoyed financial success as it improved from 70% funded over 27 years in FY2017 to 79% funded over 19 years in FY2025 with assets rising from $14.4 billion in FY2017 to $21.0 billion in FY2025.