New Retirement Board installed

by Lilly Calvache, Retirement Board Member

The new Retirement Board was installed May 18. Dan Mirisola was elected president; Javier Romero is first vice president.

One of the first things we found was that the Board had gotten out of the habit of keeping and approving minutes. We were asked to approve a bunch of minutes, some dating back to 1994. Of course we refused and insisted that from now on we have accurate minutes of each meeting, which will be discussed and approved at the following meeting. Minute-keeping is an important parliamentary procedure and a necessary component for ensuring that the body’s proceedings are straightforward and above board.

Committee assignments were made. Dan will represent the Retirement Board on the Deferred Compensation Board; Javier and Dan will be on the investment committee; all three of us will be on the benefits committee, which I will chair.

One of our first tasks will be to find a new manager for the retirement plan, as the current manager is retiring. We expect to hire a replacement by July 1. The ad hoc committee to interview and select the manager will be composed of DWP Commissioner Marcia Volpert, DWP Chief Financial Officer Ron Vasquez, and me.

After all the trouble we went through to get honest Retirement Board elections, it is extremely satisfying to begin to work in this important position. Keep watching these pages for regular updates.