The president of the board of administration of CalPERS, the state’s largest public employee pension fund, lost her bid for reelection to a Corona police officer, the agency announced Thursday after tallying votes from members cast over the last two months.

Priya Mathur, who has served on the board of the California Public Employees’ Retirement System since 2003, will be replaced by Jason Perez, a police sergeant who serves as president of the Corona Police Officers Assn. Mathur was selected in January as president of the CalPERS board, and her defeat marks the second shake-up of the pension fund’s leadership in less than a year.

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