DMS Secretary Names New Retirement Services Division Director

Dec 3 • 113 Views • View Comments

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CONTACT: DMS Communications, (850) 921-5266

DMS SECRETARY NAMES NEW RETIREMENT SERVICES DIVISION DIRECTOR

TALLAHASSEE, Fla., Dec. 3, 2012 – Florida Department of Management Services (DMS) Secretary Craig Nichols announced the appointment of Dan Drake to the agency’s leadership team. Drake will serve as the Director of the Division of Retirement Services, which administers the Florida Retirement System.

Drake’s distinguished career has included a blend of experience in the administration of pension and health care benefit programs and investment management. Most recently, he consulted with Gabriel, Roeder, Smith & Company and The Segal Company on various projects related to health care and pension design. From 1989-2004, Drake served as the Director for the Ohio Public Employees Retirement System (OPERS). He also served OPERS in prior roles as Assistant Controller and Internal Auditor.

“Dan has earned a solid reputation as a subject matter expert in the complexities of public retirement systems,” said Secretary Nichols. “His years of experience primarily at OPERS have prepared him well to lead the department through, what we believe will be dynamic and critical times for the Florida Retirement System. I’m confident he will do an outstanding job for the State of Florida and its program members. I am excited to welcome him to our team.”

As the director of a 225-employee division at the OPERS, he made notable accomplishments including the restructuring of the $11 billion retiree health care plan that involved revamping of benefit design, changing eligibility rules and revising investment strategy. He also designed and implemented innovative defined contribution and hybrid defined benefit/defined contribution plans selected as plans of choice by more than 10,000 participants.

Drake holds a Master of Business Administration from the University of Dayton and earned his bachelor’s degree in Business Administration from The Ohio State University.

Drake will replace current director Sarabeth Snuggs, a 35-year agency veteran who will retire at the end of the calendar year.

“I want to take this opportunity to publicly applaud Sarabeth for her dedicated service to the citizens of Florida,” said Secretary Nichols. “I consider myself lucky to have had the chance to work with such a fine individual. We wish her a tremendously fulfilling retirement.”

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