PORAC ENDORSES HENRY JONES IN CALPERS RETIREE RUNOFF ELECTION

Run-Off Slated for November 9-December 7, 2007


In September, more than 125,000 public employee retirees cast their votes in the first contested election for the CalPERS Board of Administration-Retiree Seat in more than 15 years.

PORAC’s endorsed candidate, Henry Jones, retired Chief Financial Officer (CFO) for the nation’s second largest school district (LAUSD), received approximately 45 percent of the overall vote while his nearest opponent received only 34 percent. Following the election, Jones received the endorsement of the third candidate in the race, Susan Bergeron-Vance, who received nearly 22 percent of the votes cast in the initial election.

Jones, who retired in 1998, was responsible for managing a $7 billion budget, overseeing the District’s investment practices and managing the implementation of CalPERS and CalSTRS reporting requirements for more than 90,000 employees. His extensive experience in advising on pension fund issues includes having been twice-elected as Treasurer of the Council of Institutional Investors, a shareholder rights organization comprised of more than 100 public, labor and corporate pension funds with assets then totaling more than $1 trillion.

“PORAC interviewed all candidates and unanimously endorsed Henry Jones. He is the most qualified candidate for this election. His breadth of experience and knowledge are extremely impressive and his union roots in the Los Angeles Unified School District are still strong. Jones will work to protect the rights, health care, and benefits of all retirees while working to keep CalPERS the most financially sound retirement system in the Nation.”, stated PORAC President Ron Cottingham.

Jones who has received the endorsement of CallPERS Board President Rob Feckner as well as CalPERS Board Members George Diehr, Priya Sara Mathur and Mike Quevedo, Jr. has also received the endorsement of organizations and labor unions representing more than 1 million public employees and retirees.

Jones began his career as a union janitor organizing for wage increases, health care and retirement benefits for classified school workers. Jones serves as chairman of the Schools Federal Credit Union board and has served as the CEO of the Independent Annuity Reserve Fund which manages investment portfolios for 7,000 teachers and administrators. A former Associate Professor of Finance at California State University Los Angeles, Jones holds a B.S. degree in Finance and Administration as well as a certificate in pension fund investing from UC Berkeley.

Jones’ endorsers include: CalPERS Board President Rob Feckner; CalPERS Board Member George Diehr; CalPERS Board Member Priya Sara Mathur; CalPERS Board Member Mike Quevedo, Jr.; AFSCME; Associated Administrators of Los Angeles; Association of California School Administrators Retired Chapter-Region 16; California Association of Highway Patrolmen; California Association of School Business Officials; California Faculty Association; California Professional Firefighters; California School Employees Association; California State University-Emeritus and Retired Faculty; California Association of Professional Scientists; California Association of Psychiatric Technicians; Los Angeles-Orange County Building and Construction Trades Council; Los Angeles School Police Officers Association; Peace Officers Research Association; Professional Engineers in California Government;  Retired Peace Officers Association of California; Retired Public Employees Association; and, SEIU-State Council.

The run off election will take place via mail-in ballots between November 9 and December 7, 2007.

For more information about Henry’s campaign, please visit his website at www.hjonesforcalpers.com


 


 

 

 

 

 

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