HARRISBURG — The chairman of Pennsylvania’s $26.5 billion state employee pension system said Monday he is stepping down, partly because of state Treasurer Rob McCord’s criticism of the handling of allegations of possible misconduct against its chief investment officer.

Nicholas Maiale, who has chaired the State Employees’ Retirement System for 21 of his 28 years on its board, said he decided to leave because he was largely responsible for hiring the investment chief and because McCord’s comments have inflamed the situation.

The allegations were “not handled well by the governor’s office and the noise level got too high” after McCord went public with his criticism, said Maiale, a former state representative from Philadelphia.

Maiale, 62, whose term on the board expired Dec. 16, said he agreed to leave the board after conferring with Gov. Tom Corbett’s office. Corbett did not reappoint Maiale after his term expired.

“I think we all agree that it’s time to move on,” Maiale said. “If I’m Gov. Corbett, I don’t need all this noise over petty matters.”

Corbett spokesman Jay Pagni said his boss did not ask for Maiale’s resignation, but that Maiale’s characterization of the governor’s motives is strictly his point of view.

McCord, one of eight Democrats seeking the nomination to challenge Corbett’s re-election bid in 2014, has criticized Maiale’s leadership as board chairman.