Pennsylvania PSERS chooses new CIO following nationwide search

The Pennsylvania Public School Employees' Retirement System (PSERS) has appointed Benjamin Cotton, a U.S Marine veteran with more than 25 years of corporate leadership, investment and internal control experience, as its new CIO.

Cotton was chosen from a qualified pool of candidates through a nationwide search that commenced in May 2022, when the previous CIO, James Grossman Jr., retired. Bob Devine served as interim CIO during the search for Grossman’s replacement.

At Pennsylvania PSERS, Cotton will oversee 65 internal investment professionals and staff, and multiple contracted external consultants and managers who invest the system's $71.2 billion in assets.

Cotton previously served as a senior managing director for the United Auto Workers Retiree Medical Benefits Trust, which was established to invest assets and administer