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September 27, 1993|From Times Staff and Wire Reports

CalPERS' DeWitt Bowman Announces Retirement: Bowman, 63, the chief investment officer of the $78-billion portfolio of the California Public Employee Retirement System, confirmed that he will retire at the end of January because "I want to slow down." Former investment officer for San Francisco's municipal retirement system, Bowman joined the nation's biggest public pension fund in 1988 when it stood at $45 billion. CalPERS is advertising for a replacement for Bowman, who was paid $168,000 a year under contract. The new investment officer will be a state employee but exempt from civil service salary limits. Comparable jobs on Wall Street pay $500,000.

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