Ruth Ryerson - Executive Director

Ruth Ryerson

Ruth Ryerson serves as executive director of the Wyoming Retirement System. As executive director, she is responsible for running the $8 billion system, which serves about 42,000 public employees in Wyoming and 26,000 retirees. Ryerson manages the staff and day-to-day operations, and also serves as WRS board secretary.

Ryerson brings to the position 27 years of experience in the retirement industry. Prior to joining WRS, she served as executive director and chief investment officer of the Fort Worth Employees’ Retirement Fund, a position she held from 2006 through July 2013. Ryerson also spent 19 years at the Fire and Police Pension Association of Colorado in Denver serving as accounting manager in 1987, deputy executive director in 1991 and chief executive officer from 1993 to 2006. Before working for the Fire and Police Pension Association of Colorado, she worked as an audit supervisor for the city auditor’s office in Colorado Springs.

She earned a bachelor’s degree in Business Administration/Finance from the University of Wisconsin and an MBA in International Business from Regis University, Denver. Her professional certifications in accounting and finance include Certified Public Accountant, Certified Internal Auditor, Certified Management Accountant and Certified Government Financial Manager.

Ryerson’s pension and benefits certifications include Certified Benefit Specialist, Chartered Pension Professional, Chartered Pension Executive, Certified Trustee (Texas Public Employee Retirement System), and Accredited Investment Fiduciary Auditor.

David Swindell - Deputy Director

David Swindell

David Swindell is the Deputy Director / Chief Financial Officer of the Wyoming Retirement System, where he oversees Member Operations, Finance & Accounting, Communications and Information Systems, as well as other agency-wide management duties as assigned by the Director. Dave was previously the Chief Financial Officer for the City of Pocatello, ID (pop. 54,255) where he managed the city budget, accounting department, utility billing and performance management of all city services.

Prior to his duties in local government, Dave was a career military officer, serving 22 years in the U.S. Army, retiring with a rank of Lieutenant Colonel. His military career included field duty in various artillery and missile units in Korea, Germany and the United States, as well as staff assignments that included Assistant Professor of Economics at West Point and budget analyst on the Army Staff, Pentagon.  His education includes a MPA with concentration in economics from Princeton University and a bachelor of science degree from the U.S. Military Academy at West Point.

He is a member of the Government Finance Officers Association, Association of Government Accountants and is a Certified Government Finance Manager (CGFM). His arrival at the Wyoming Retirement System marked a return to the state, as he was raised in Riverton, WY and was appointed to the Military Academy from Riverton High School. Dave and his spouse Jill enjoy travel, skiing and fly fishing, where they amuse the local trout with their efforts. 

Sam Masoudi, CFA, CAIA - Chief Investment Officer

Sam MasoudiSam Masoudi has 25 years of financial industry experience. He has been the CIO for the Wyoming Retirement System since December 2013. Prior to that, he served as a Managing Director of Tulane University’s endowment fund for five years. He was a founder and portfolio manager for eight years at the hedge fund Silver Peak.

Sam’s other investment experience includes three years at Veronis Suhler Stevenson (private equity fund) as a director, and four years as an assistant vice president in real estate investment banking at PaineWebber and Kidder Peabody, two New York based investment banks.

Sam received his B.S. in Finance and Investing from Babson College. He holds the Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA) designations. He was born and raised in Denver, CO.

Benjamin L. Brandes - General Counsel

Benjamin BrandesBenjamin L. Brandes has served as General Counsel to the Wyoming Retirement System since October 2010. In this capacity, Brandes provides legal advice to the System on all investment, administrative and operational matters. He also advises the Wyoming Retirement Board of Trustees.

Prior to joining WRS, Brandes served as legal counsel to the National Mining Association in Washington, D.C. He also has several years of prior public service to the State of Wyoming in a variety of capacities, including as a policy adviser to Governor Freudenthal.

Brandes earned a Bachelor's degree in History from the University of Colorado at Boulder and his JD from the University of Wyoming in 2004. He is an active member of the Wyoming Bar Association, the American Bar Association and the National Association of Public Pension Attorneys.


  • Operations Manager (Pension) - Rose Todd
  • Deferred Compensation & Communications Manager - Polly Scott
  • Finance Supervisor - Jack Riley
  • Staff Development and Executive Administrator - Mike Bleakley
  • Business Integration Manager - Cindy Kushnir
  • Information Officer - Michael Vuyk

Investment Staff Information...