Second IPERS employee placed on leave amid misconduct investigation
A second official with the Iowa Public Employees Retirement System has been placed on leave amid an investigation into allegations of misconduct.
IPERS spokesperson Rachel Simon confirmed on April 2 that IPERS Chief Outreach Officer Steven Herbert was placed on administrative leave on April 1 “pending the completion of the investigation into the allegations of misconduct.”
The Des Moines Register previously reported: IPERS CEO Greg Samorajski has been placed on administrative leave effective March 31 The investigation into allegations of abuse of power is ongoing.
The retirement system manages more than $45 billion in assets for more than 400,000 current and former public employees.
Herbert earned a salary of $176,000 in fiscal year 2025. government records showing. Samorajski’s salary that year was $261,000.
The newspaper reported for the first time News that Herbert is on leave.
IPERS General Counsel Elizabeth Hennessey was appointed acting IPERS CEO while Samorajski is on leave.
“None of these situations pose any risk to the IPERS Trust Fund and do not impact the payment of benefits to members,” Simon said in an email. he said. “As this is a confidential personnel matter, I cannot share additional information about IPERS employees who are on leave.”
IPERS reported in December that the system’s funded rate was 92.17% at the end of fiscal 2025, an improvement from 90.75% at the end of the previous fiscal year.
IPERS investment portfolio as of September 30, 2025 market capitalization was $48.54 billion and saw an annual rate of return of 10.14%, which exceeded policy benchmarks and the assumed rate of return.
Last year, Governor Kim Reynolds Iowa DOGE Task Force recommended The state conducts a study on state employee benefits and compensation as a precursor to transitioning IPERS from a defined benefit plan to a defined contribution plan for future employees.
Republican legislative leaders Amendments to IPERS rejected We did not take any action on the recommendation.
Rich Wiggins, a former IPERS venture investment officer A lawsuit is being filed against the state for unfair terminationHe said he was fired for objecting to questionable investment strategies and reporting policies.
Stephen Gruber-Miller covers the Iowa State Legislature and politics for the Register. He can be reached by email at sgrubermil@registermedia.com or by phone at 515-284-8169. Follow him on X @sgrubermiller.
This article first appeared in the Des Moines Register: IPERS official Steven Herbert placed on leave amid misconduct investigation
