Kentucky Teachers’ Longtime CIO Announces Retirement

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After almost 29 years at the Kentucky Teachers’ Retirement System, chief investment officer Paul Yancey is hanging it up at the end of the month. He’ll be retiring October 1, according to a report from the Lane Report.

Deputy CIO Tom Siderewicz will step into Yancey’s shoes.

More on Yancey and Siderewicz, from the Lane Report:

The KTRS Board of Trustees approved a resolution honoring Yancey on Sept. 21 for his career with the teachers’ pension system, which is Kentucky’s largest financial institution.

Yancey began with KTRS in November 1986 as an analyst and, more recently, has been CIO since December 2004. The agency had about $2.4 billion in assets when he arrived and that total has grown during his KTRS career to $18.5 billion as of June 30.

Siderewicz started with KTRS in September 2011 and became deputy chief investment officer Jan. 1. He is a Chartered Financial Analyst with a bachelor’s degree in economics from California State University Long Beach.

The teachers’ retirement investment team’s work resulted in a 5.1 percent return in the fiscal year that ended June 30, better than the 3.1 percent average of other large U.S. pension plans. The investment fees paid by KTRS in the prior fiscal year represented two-tenths of 1 percent of assets.

The Kentucky Teachers’ Retirement System manages $18.5 billion in assets.

 

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