Greg Samorajski resigns and Steven Herbert is fired after misconduct investigation
Updated
Updated · Des Moines Register · May 7
Greg Samorajski resigns and Steven Herbert is fired after misconduct investigation
8 articles · Updated · Des Moines Register · May 7
At Iowa's IPERS, Samorajski left on 1 May and Herbert was dismissed on 7 May, leaving interim chief executive Elizabeth Hennessey running the $48bn pension system.
Officials have not disclosed the complaints or investigative findings, but say benefit payments and the trust fund for roughly 424,000 current and former public employees are unaffected.
Governor Kim Reynolds and IPERS will conduct nationwide and internal searches for replacements, while board members from both parties say they want more details about the case.
Why was an executive fired for misconduct in one state hired to help lead Iowa's $48 billion pension system months later?
Does the leadership crisis at Iowa's pension fund signal a wider breakdown in how public retirement systems are governed nationwide?