Press Release

For Immediate Release
June 8, 2007

Contact:

Bob Conlin
Communications Director
(608) 261-7940

Stanchfield Takes New Post

MADISON, (Wis.) – Department of Employee Trust Funds (ETF) Secretary Eric Stanchfield has announced that he has accepted the position of Executive Director of the District of Columbia Retirement Board (DCRB) in Washington, D.C. He will assume his new duties later this summer. Secretary Stanchfield is a native of Washington, D.C. and still has family in that area. Stanchfield has served with ETF since 1987, the last 15 years as Secretary.

Secretary Stanchfield said his decision to leave was a difficult one given his long association with the Department, but he feels comfortable that the agency is well positioned and the timing is good. “I am proud to have served as Secretary and have appreciated the support of our governing boards, our members, and our staff, who have been like family to me for many years,” Stanchfield said. “I’m confident that I’m leaving the administration of the Wisconsin Retirement System in very capable hands.” He went on to say that the opportunity with DCRB allows him to take on new professional challenges and return to family and life-long friends in Washington.

Marilyn Wigdahl, Chairperson of the Employee Trust Fund Board, noted that Stanchfield has been a tremendous leader and careful steward of the state’s pension fund. “We’ll miss him terribly,” said Wigdahl. “He has put the retirement system on solid ground. I’m confident it will continue to be one of the most well-funded and respected systems in the country. I wish him well in his new pursuits.”

The DCRB is a public pension agency with assets of approximately $5 billion serving District of Columbia police officers, fire fighters, and teachers. In his new role, Stanchfield will direct both the investment of pension assets and the administration of pension benefits.

The Employee Trust Funds Board will determine how and when a replacement will be selected.

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• The Wisconsin Retirement System (WRS) has over 530,000 members, including current state and local government employees and retirees. Over 1,400 units of government across Wisconsin participate in the WRS.
• The WRS has over $83 billion in assets. The assets are invested by the State of Wisconsin Investment Board for the benefit of WRS members.
• The Department of Employee Trust Funds administers WRS pension and other public employee benefits. In 2006, ETF paid out over $3 billion in pension payments to retired members. Approximately 80% of those benefits were derived from investment returns.
• The WRS is the 9th largest public pension fund in the US and the 24th largest in the world