Michele Nix has been appointed as the Chief Financial Officer of CalPERS, following an announcement by CEO Marcie Frost. Nix has been serving as interim CFO since August 2022, following the appointment of former CFO Michael Cohen as Chief Operating Investment Officer. Nix will supervise all financial operations at CalPERS, including budgeting, accounting, cash management, financial planning and analysis, prefunding programs, 115 Trusts, and pension contracting, under Frost's leadership. Nix is responsible for overseeing the daily operations of the financial reporting and accounting services division, the financial planning, policy and budgeting division, and the pension contracts and prefunding programs division.
Nix brings 27 years of expertise in the public sector, and is proficient in a variety of financial areas, including pension plan administration, financial analysis, investments, accounting, process development, financial reporting, treasury management, budgeting, procurement, risk management, auditing, and related financial areas. Nix joined the company in 2018 as Controller. In the near future, CalPERS will commence the recruitment process for a permanent Controller to succeed Nix. CalPERS has been instrumental in ensuring the retirement and health security of public agency, education, and state employees for more than nine decades. CalPERS is the largest defined-benefit public pension fund in the United States, as it administers benefits for over 1.5 million members and their families and serves over two million members in its retirement system.
