Marcie Frost joined CalPERS as chief executive officer (CEO) in October 2016. She is the ninth CEO and second woman to head the pension fund, which administers a defined benefit retirement system for more than 1.9 million California public sector workers and their families and purchases health care for more than 1.4 million public sector employees.
Marcie oversees a global investment portfolio of more than $379 billion, approximately 2,800 employees, and manages an annual budget of $1.8 billion to administer the system. Since joining CalPERS, her focus has been on improving the funded status of the plan, member services delivery, and enterprise performance management.
She has dedicated the majority of her career to public service, having spent 30 years as a public servant in Washington State.
In 2013, she was tapped by Washington State Governor Jay Inslee as cabinet lead for the Results Washington performance and accountability system, where she served as an early creator and architect for the platform that tracks goals and progress in education, the state’s economy, sustainable energy, healthy and safe communities, and efficient government.
Marcie served on the Washington State Investment Board as an ex-officio voting member for four years and served as its chair. The board manages more than $120 billion in assets for 17 retirement plans.
She has also served as chair of the Pension Funding Council, responsible for setting economic assumptions and pension contribution rates for the state’s pension plans; was a member of the Technology Services Board in Washington that oversees the state’s IT projects with a measurable focus on business alignment, security, open data, transparency and mobility goals; and was a voting member of the Washington State Legislature’s Select Committee on Pension Policy.
Marcie represents the United States on the International Centre for Pension Management Board of Directors.
Resources
- Marcie Frost Interview with BNN Bloomberg – October 28, 2020
- How California’s Pension Fund is Confronting Climate Change
- POLITICO Pro Q&A: CalPERS CEO Marcie Frost
- CalPERS Steps up on Climate Change
- CalPERS Puts ‘Laser-Like Focus’ on ESG, Board Diversity, and Executive Pay
- CalPERS’ Investment Strategy on Climate Change
First Report in Response to the Taskforce on Climate-Related Financial Disclosure (PDF)
- Renewed, Recharged and Reinforced: Urgent actions to harmonize and scale sustainable finance
Report of the Global Investors for Sustainable Development Alliance to the European Commission
