Press Release

For Immediate Release
September 14, 2007

Contact:

Pam Henning
HR Director
(608) 267-2929

David Stella Appointed ETF Secretary

MADISON, (Wis.) – David A. Stella has been appointed Secretary of the Department of Employee Trust Funds (ETF). Stella has been Deputy Secretary of ETF since 2003. Before that, he was Executive Director of the Denver Public Schools Retirement System from 2001 to 2003, and head of retirement services for ETF from 1986 to 2001.

Stella’s appointment was made today by the ETF Board of Trustees after a national recruitment effort. The Board based its decision upon recommendations from the Board’s Search and Screening Committee and an in-depth interview with Stella. Marilyn Wigdahl, Chair of the Board, said, “The Board was very pleased with the extensive experience and outstanding reputation that Dave will bring to the post.”

Wigdahl went on to point out that Stella is exceptionally qualified for the position and his leadership and employee benefits experience with ETF adds further stability to an already solid Wisconsin Retirement System. “Dave has the full support of the Board and we know he will continue to uphold the very high standards of integrity and service set by his predecessors.”

Stella succeeds Eric Stanchfield, who resigned earlier this year to take a position in Washington, D.C. Stella’s appointment is effective immediately.

A native of Spooner, Wisconsin, Stella has over 30 years of public service experience in the state. He holds a Bachelors and Masters degree from the University of Wisconsin – Madison, and is certified as a Retirement Administrator by the Institute for Retirement Education. Stella has been active in national retirement associations, including the National Association of State Retirement Administrators (NASRA) and the National Council on Teacher Retirement (NCTR). He currently serves as chairperson of NCTR’s Legislative Committee.

• The Wisconsin Retirement System (WRS) has over 540,000 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.