Conf 09-PERA Board
SENATE COMMITTEE ON FINANCE
|Votes: View--> ||Action Taken: |
|Refer Howard M. Crane with a favorable recommendat||PASS|
10:02 AM -- Confirmation to the PERA Board
Mr. Howard Crane, appointee to the Public Employees' Retirement Association (PERA) Board, described his background and interest in serving on the board. A copy of his appointment letter and resume was distributed to the committee (Attachment A). Mr. Crane also distributed a statement to the committee about his qualifications and background (Attachment B). Mr. Crane has completed one and a half years of service as a member of the PERA Board.
(Attachment A and Attachment B can be viewed at State Archives)
Mr. Crane stated that he has been an investment professional for 38 years. He explained that his educational background is in economics and applied mathematics. Mr. Crane also said he has worked extensively with investment and actuarial finance, serving as a Chief Investment Officer for Watson Wyatt, and has extensive experience managing large pension plans. Mr. Crane responded to questions from the committee about the current value of PERA's investments. He stated that the PERA board will need to evaluate actuarial conditions moving forward. Additional discussion ensued about the market, current financial obligations, and the value of PERA's investments.
|BILL:||Confirmation to the PERA Board |
|TIME: || 10:11:33 AM|
|MOTION:||Refer Howard M. Crane with a favorable recommendation to the full Senate to serve on the Public Employees' Retirement Association Board for a term expiring July 10, 2012. The motion passed 6-0, with one excused.|
Final YES: 6 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS