Terrill “Terri” Sanchez has been named interim executive director of the $ 72.5 billion employee pension scheme at the Pennsylvania Public School, said Evelyn Williams, spokeswoman for the Harrisburg-based plan.
Ms. Sanchez replaced Glen R. Grellwho moved to a senior advisor position on January 1st and will retire on February 28th.
Ms. Sanchez retired on December 31 as the executive director of the $ 39 billion Pennsylvania State Employees’ Retirement System in Harrisburg Joseph A. Torta, previously Deputy Executive Director and Director of Members and Participant Services.
Prior to her role as Executive Director of PennSERS, Ms. Sanchez was Deputy Executive Director at PennPSERS.
She will take on this interim role as a 95-day emergency worker while the system looks for a permanent replacement for Mr. Grell.
In November, the PennPSERS Board of Directors voted to accept the resignation of Mr. Grell and Chief Investment Officer James H. Grossman Jr. after a state investigation into the system for an error in the reported investment figures discovered by the board of directors.
Mr. Grossman, who will retire on May 1st, moved to his own position as Senior Advisor on December 9th. On the same day, Robert Devine, the system’s fixed income general manager, was named deputy CIO. A permanent CIO is being sought.