Position Information

Chief Investment Officer CHIEF INVESTMENT OFFICER (CIO) - STATE OF HI EMPLOYEES’ RETIREMENT SYSTEM (ERS) The Employees’ Retirement System of the State of Hawaii (ERS) seeks to hire a Chief Investment Officer (CIO) who will manage the investment activities of the ERS, provide guidance to the ERS Executive Director and Board of Trustees and serve as a member of the ERS Executive/Administrative team. This professional will advance our investment program by providing vision, leadership and strategic planning necessary for ERS to thrive and achieve its goal of sustainability for its stakeholders and beneficiaries. The CIO must be a strategic visionary for the ERS, one of the largest public pension funds in the country with over 132,191 members, retirees and beneficiaries and assets in excess of $25.2 billion. Demonstrate leadership skills to oversee the portfolio, internal professionals, and the external investment management firms. Exceptional communication and collaboration skills are necessary. Required degree in finance, economics, business, accounting or related field. MBA, CFA, CAIA designations and experience with public pension systems preferred. The salary range is $300K to $400K. The final compensation will be determined based on market, education, and professional experience. Kumabe HR, LLC, an executive search firm, is assisting ERS with this important search. All calls and inquiries should be made through the search firm. Interested applicants should send a resume and cover letter outlining their qualifications and interest in the position to Kimberly Miyashiro at kimberly@kumabehr.com. The full job description is available at www.kumabehr.com. Applications received by October 16, 2026, will receive priority consideration. Review of applications will begin immediately and will continue until the position is filled. We are an Equal Opportunity Employer www.kumabehr.com
Position:	Chief Investment Officer
Organization:	State of Hawaii - Employees Retirement System
Location:	Honolulu, HI United States
Salary:	$300,000 to $400,000
Posting Start Date:	9/2/2026
Date Posted:	9/3/2026
Requirements
Status:	This listing expires on: 11/2/2026

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Organization Information

Name:
State of Hawaii - Employees Retirement System

Address:

Honolulu, HI 96816
United States

Email:
kimberly@kumabehr.com

Phone:

Fax:

Contact:
Kimberly Miyashiro

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Becoming a member of NASRA offers a unique opportunity to join a community committed to the sound, efficient, and innovative stewardship of public retirement systems. Membership connects you with a network of professionals and experts, providing valuable insights into managing public retirement systems with a focus on sustainability and risk-averse strategies.

By joining NASRA, you gain the tools and resources to enhance the management of public retirement systems, ensuring their long-term success and reliability for generations to come.

What’s New at NASRA: Employee Contributions to Public Pension Plans

Employee contributions remain a central part of public pension financing, and the way those contributions are structured is subject to change depending each states' governance rules. . NASRA’s 2026 updated brief finds median employee contribution rates of 6.2 percent of pay for employees who participate in Social Security and 9.0 percent for those who do not. For employees who do not participate in Social Security, the public pension often plays a broader role in retirement security, effectively providing two of the traditional three legs of the retirement stool rather than one.

Since 2009, 41 states increased employee contributions in at least one plan, while some states recently reduced rates for selected employees. Variable contributions are also becoming more common, with 26 plans in 17 states adjusting employee rates based on funding, plan costs, or other factors. The brief provides current trends and a state-by-state look at employee contribution requirements across public retirement systems.