Sat Jul 04 2009
Interviews begin today as part of the search for a new executive director at the Kentucky Retirement Systems.
Wally Pagan, a member of the KRS board of trustees, said the search committee will interview between four and six candidates today and Thursday. The sessions will take place behind closed doors at the Hyatt Regency in Lexington.
Pagan said it's possible the committee could select a final candidate and make an offer by the end of the year. The full board would be required to approve the decision at a meeting in early January.
It's important to have a new leader in place when the General Assembly reconvenes next month and begins work on the new biennial budget, Pagan said.
Bill Hanes retired in June as executive director but agreed to stay until a successor was hired. He's earning $115 per hour as an "at-will" employee but receives no benefits.
The search committee decided to hire a consultant after only eight applied in the first round of advertisements.
Pagan said he's pleased with the results of the recruitment consultant Hudepohl & Associates. The board awarded a recruiting contract to Hudepohl in August for a flat fee of $59,650 plus expenses.
The company received approximately 70 rsums, although not all applicants were qualified.
"I'm very pleased, the performance has been excellent," Pagan said.
Hanes said in an exit interview with the KRS board in July that a successful candidate should have experience managing a large defined-benefit plan. An executive director should also have a strong management style and be honest and transparent with board members, Hanes said.
The Kentucky Retirement Systems has $17 billion in assets and 302,000 members, including state, county and school board employees.
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