Cassandra Lichnock
Cassandra Lichnock. Courtesy CalSTRS

The Teachers’ Retirement board on Wednesday appointed Cassandra Lichnock as the chief executive officer of California State Teachers’ Retirement System, making her the first woman to lead the pension fund in its 108-year history.

CalSTRS, as it is known, is America’s second-largest pension fund, with a 75% female membership.

Lichnock will take over the top role on July 1, after current CEO Jack Ehnes retires on June 30.

Lichnock joined CalSTRS in August 2008 as the human resources executive officer and has served as its chief operating officer since March 2013.

Founded in 1913, CalSTRS is the largest educator-only pension fund in the world with $300 billion in assets under management as of the end of April.