People - SEPTEMBER 30, 2022

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Public Employee Retirement System of Idaho appoints new CIO

by Kali Persall

The Public Employee Retirement System of Idaho (PERSI) has appointed Richelle Sugiyama to serve as its new CIO, effective Oct. 1.

Sugiyama replaces Bob Maynard, who retires after 30 years at the fund on Sept. 30. When Maynard joined the system as CIO in 1992, the fund had $2.1 billion in assets and a funding level of 62 percent. As of the end of fiscal year 2020, the retirement system reported a funding ratio of 87.7 percent.

In her new role, Sugiyama will be responsible for directing all aspects of the retirement system’s $21 billion investment program. She also serves on several investment organizations, including as vice-chair of Idaho’s $3 billion Endowment Fund Investment Board, and as a member of the State Treasurer’s advisory board.

“The PERSI board is excited Richelle Sugiyama has accepted the position of CIO for PERSI,” said Jeff Cilek, chairman of the board. “She

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