State Treasurer Michael Fitzgerald Unanimously Elected IPERS Chair
September 20, 2018
DES MOINES, Iowa – In the meeting on September 20, State Treasurer Michael Fitzgerald was unanimously elected as the next Chair of the IPERS Investment Board. The Investment Board is an 11-member public body that meets quarterly to review investments and assumptions, as well as set asset allocations. Treasurer Fitzgerald has been an Investment Board member, as well as an IPERS Trustee for 35 years.
“It is an honor to serve as Chair of the IPERS Investment Board” stated Treasurer Fitzgerald. “I have been a vocal advocate for the hardworking Iowans, their families, and their communities, who depend on IPERS in retirement. As Chair, I want to ensure we build upon IPERS’s strong, secure, and sustainable position.”
The Iowa Public Employee Retirement System (IPERS) was created in 1953 with the primary purpose to provide a secure core retirement benefit to Iowa's current and former public employees such as, teachers, public nurses, firefighters and police, correctional officers, and many more. One in ten Iowans are part of IPERS. The total IPERS benefits paid in FY 2017 were $1.9 billion, with an average benefit of $17,000.
Along with his responsibilities to the IPERS Investment Board, Treasurer Fitzgerald also serves as trustee, custodian and investment administrator for the Iowa Peace Officers’ Retirement, Accident, and Disability System and the Judicial Retirement System.