NATIONAL COUNCIL ON TEACHER RETIREMENT 88th ANNUAL CONVENTION
PRESERVING RETIREMENT SECURITY
Pensions
Social Savings Security $
October 9–14, 2010 • The Westin La Cantera • San Antonio, Te x as PROGRAM PROGRAM
88th Annual Convention PRESERVING RETIREMENT SECURITY
I I I The Westin La Cantera San Antonio, Texas October 2010
Convention Name Badges NCTR conventions are for registered participants only. Your official convention name badge serves as your ticket to most functions, including sessions, meals, and receptions. Security personnel will check badges. Please cooperate by keeping your name badge visible. Cyber Café Monday through Wednesday, 7:30 am to 5:00 pm, registered participants are welcome to access the internet at the NCTR Cyber Café. Please wear your name badge. Attire Convention attire is business casual. The last night event is casual. General Courtesy Please silence your cell phone as you enter sessions, and leave the room if you need to partic- ipate in a call. Guest Tours Guests who have reserved “Spotlight on Missions” tour are to meet in the lobby at 9:15 a.m. on Monday.
PRESERVING RETIREMENT SECURITY 1 PROGRAM
SATURDAY, OCTOBER 9, 2010 1:00–5:00 PM Registration SAN JACINTO / SAN LORENZO FOYER
6:00 PM Early Arrivals Reception EMILY’S ROSE COURT
REMEMBER:
e is KET KET You r name badg your ticket into sessions, SUNDAY, OCTOBER 10, 2010 TIC TIC meals and events. 9:00 AM – 5:00 PM Registration SAN ANTONIO FOYER
9:00 AM Nominating Committee meeting SAN CRISTOBAL
11:00 AM Resolutions Committee meeting SAN GABRIEL B
NOON First-Time Attendee Luncheon (Pension Members Only) SAN MIGUEL
1:00 PM Texas Children’s Choir performance SAN ANTONIO BALLROOM
I Thomas Hardaway, Director I Bethany Hill, Associate Director
FIRST GENERAL SESSION SAN ANTONIO BALLROOM Presiding: Gary L. Harbin, NCTR President; Executive Secretary, Kentucky TRS
1:30 PM Formal Opening of Convention National Anthem: Texas Children’s Choir Pledge of Allegiance: Nanette Sissney, Trustee, Texas TRS Welcome: Gary L. Harbin, NCTR President
2 NCTR 88TH ANNUAL CONVENTION PROGRAM
1:45 PM OPENING KEYNOTE ADDRESS Our Age of Transformation: What’s Next in Our High-Tech, Global 21st-Century World? I Peter Leyden, Technology and Future Trends Expert, and Author, Journalist, and Commentator
2:30 PM Opening Panel: Where Are We Going? Moderator: Beth Almeida, National Institute on Retirement Security (NIRS) I Ron Snell, National Conference of State Legislatures (NCSL) I Elizabeth Kellar, Center for State and Local Government Excellence I Bill Raabe, National Education Association (NEA)
4:00 PM End of Session
5:30 PM Reception PLAZA SAN SABA
7:00 PM Evening open; on your own
MONDAY, OCTOBER 11, 2010 7:00 AM – 5:00 PM Registration SAN ANTONIO FOYER
7:30 AM – 5:00 PM Cyber Café SAN CRISTOBAL ROOM
7:30 AM Breakfast SAN ANTONIO TERRACE
SECOND GENERAL SESSION SAN ANTONIO BALLROOM Presiding: Ronnie Jung, NCTR President-Elect; Executive Director, Texas TRS
8:30 AM KEYNOTE ADDRESS 2010 and Beyond
I Mark Halperin, Editor-at-Large and Senior Political Analyst, TIME
PRESERVING RETIREMENT SECURITY 3 PROGRAM
9:30 AM Prospects for Global Equities Moderator: Peter Q. Thompson, Perkins Investment Management LLC I Shawn Lytle, UBS Global Asset Management I Warren Koontz, Loomis, Sayles & Company
10:15 AM Break SAN ANTONIO FOYER
10:30 AM Economic Forecast Introduction: Tony Gelderman III, Bernstein Litowitz Berger & Grossmann LLP I Peter Ricchiuti, Financial Markets Professor, A.B. Freeman School of Business, Tulane University
11:45 AM Group Luncheon BALLROOM ABC
The Future of Retirement Security I Roger Ferguson, President and CEO, TIAA-CREF
SECOND GENERAL SESSION {resumes} SAN ANTONIO BALLROOM
2:00 PM Actuarial Panel Discussion Moderator: Joe Newton, Gabriel, Roeder, Smith & Company I John Garrett, Cavanaugh Macdonald Consulting, LLC I Kim Nicholl, The Segal Company I Cindy Fraterrigo, PricewaterhouseCoopers
3:00 PM Consultants Roundtable Moderator: Jack Ehnes, CalSTRS I Jeff Slocum, Jeffrey Slocum & Associates, Inc. I Allan Emkin, Pension Consulting Alliance, Inc. I Patrick J. (PJ) Kelly, Ennis Knupp & Associates
4:00 PM End of Session
6:00 PM Buses depart for San Antonio River Walk for reception and dinner
6:30 PM Reception and dinner at Rio Rio Cantina
8:30–10:00 PM Buses return to The Westin La Cantera
4 NCTR 88TH ANNUAL CONVENTION PROGRAM
TUESDAY, OCTOBER 12, 2010 8:00 AM–NOON Registration SAN ANTONIO FOYER
7:30 AM – 5:00 PM Cyber Café SAN CRISTOBAL ROOM
7:30 AM Breakfast SAN ANTONIO TERRACE
THIRD GENERAL SESSION SAN ANTONIO BALLROOM Presiding: Peggy G. Boykin, NCTR Secretary/Treasurer; Director, South Carolina RS
8:30 AM Real Estate Trends Moderator: Jim Clayton, Cornerstone Real Estate Advisers LLC I John Virtanen, New York STRS I Janet Becker-Wold, Callan Associates Inc. I Kevin Faxon, J.P. Morgan Asset Management
9:30 AM Global Strategies Moderator: R. David Kelly, Texas TRS I Dennis Sugino, Cliffwater, LLC I Christopher Getter, PIMCO I Joseph Morgart, Pyramis Global Advisors
10:30 AM Break SAN ANTONIO FOYER
10:45 AM Legal Issues Affecting Public Plans Moderator: Dave Stella, Wisconsin Department of Employee Trust Funds I Mary Beth Braitman, Ice Miller LLP I Lisa Mezzetti, Cohen Milstein Sellers & Toll PLLC I Pamela R. Kinard, Internal Revenue Service
NOON Afternoon free; optional activities (golf, shopping, biking)
NOON Box lunches for Golf Tournament players PALMER COURSE
PRESERVING RETIREMENT SECURITY 5 PROGRAM
1:00–5:30 PM Golf Tournament PALMER COURSE Sponsored by Bernstein Litowitz Berger & Grossmann LLP
6:00 PM Reception SAN ANTONIO FOYER
7:00 PM 2010 National Teacher of the Year Dinner, followed by Address SAN ANTONIO BALLROOM
I Sarah Brown Wessling, English Teacher, Johnston High School, Johnston, Iowa
WEDNESDAY, OCTOBER 13, 2010 7:30 AM – 5:00 PM Cyber Café SAN CRISTOBAL ROOM
7:30 AM Continental Breakfast SAN ANTONIO TERRACE
FOURTH GENERAL SESSION SAN ANTONIO BALLROOM Presiding: William Finelli, NCTR Executive Committee Member; Trustee, ERS of Rhode Island
8:30 AM Health Care Update Moderator: Tom Lussier, Lussier, Gregor, Vienna & Associates, Inc. I Patrick Pechacek, Deloitte Consulting LLP I Anne Jones, Humana, Inc. I Bryce Williams, Extend Health Inc.
9:30 AM Governing in Challenging Times Moderator: Jim Mosman, NCTR Executive Director I Nancy Williams, Ennis Knupp & Associates I Meredith Williams, Colorado PERA I Marti Zins, Minnesota Teachers Retirement Association
6 NCTR 88TH ANNUAL CONVENTION PROGRAM
10:30 AM Break SAN ANTONIO FOYER
10:45 AM Legislative Report I Leigh Snell, NCTR Federal Relations Director
NOON Trustee Luncheon (Plan Sponsors & Spouses only) SAN ANTONIO BALLROOM A/B Education Policy I Diane Ravitch, Research Professor of Education, New York University; Education Historian; and Nonresident Senior Fellow, Brookings Institution
NOON Directors Luncheon (Plan Sponsors & Spouses only) SAN AUGUSTIN
2:00 PM Annual Business Meeting SAN ANTONIO BALLROOM A/B Presiding: Gary L. Harbin, NCTR President; Executive Secretary, Kentucky TRS
Committee Reports I Credentials I Trustee Education I Administrator Education I Legislative I Executive I Resolutions I Nominating Election of Officers Drawing for Business Meeting Door Prizes
3:00 PM Meeting ends
5:45 PM Buses depart for Pedrotti’s Ranch for casual, Western-themed dinner Entertainment provided by Pyramis Global Advisors
7:30–9:30 PM Buses return to The Westin La Cantera
See you in Baltimore, Maryland, in 2011!
PRESERVING RETIREMENT SECURITY 7 Congratulations to the 2010 NATIONAL TEACHER OF THE YEAR Sarah BrownWessling Johnston, Iowa
Sarah Brown Wessling, a 10- through 12-grade Wessling is also passionate about learning in the English teacher at Johnston High School in 21st-Century, believing that problem-solving and crit- Johnston, Iowa, begins the school year for her senior ical thinking are useless without the facts; but that English students with a copy of Plato’s Parable of the the reverse is also true. In her classroom, she steps Cave and a candle. She tells them that, by the end outside the five-paragraph essay and into the world of the class period, they need to tell her the course of surveys, songs, film storyboards, public service expectations. And in Wessling’s announcements, Facebook classroom, they can. Wessling lives pages, and a yearly grant project her belief that, as she says, in which the entire town gets “Learning must be learner-centered.” involved. Her students create nonprofit organizations for at-risk Because of her passion for her sub- populations in the community ject, her innovative focus on her and write grant proposals for learners, and the equal passion she which members of the communi- devotes to mentoring others new to ty approve (imaginary) funding. the profession, Wessling was named Wessling observes, “Students 2010 National Teacher of the Year by construct knowledge when it is rele- President Barack Obama at a White vant to them, when they have a real House ceremony in April. As the authentic purpose, when they have 60th National Teacher of the Year, an audience that gives them con- she is devoting herself full time for a text.” year as a national and international spokesperson for education. Wessling has taught at Johnston High School for 10 years. She Wessling works as hard as her students, instilling holds both a Bachelor’s and Master’s degree from hope in those who have given up on education by Iowa State University, in English education and being available far outside a fifty-minute lecture and English literature, respectively. In 2005, she earned giving far more than a few notes at the end of a certification in English Language Arts/Adolescence paper; by engaging them with alternative assign- and Young Adulthood from the National Board for ments that can make the words of a philosopher, Professional Teaching Standards. She is married to dead for two millennia, relevant to their lives now; Tim Wessling and they have three children, ages six, and by celebrating any increment of progress. To three, and four months. Wessling, learner-centered education means “respecting who students are right now.” And, as she says, “creating a web of rigorous content, real- Please world experience, and inquiry-based experiences join us Tuesday night around the learner.” at the dinner in her honor.
The National Teacher of the Year Program focuses public attention on teaching excellence and is the oldest and most prestigious awards program for teachers in the country. It is a project of the Council of Chief State School Officers (CCSSO) with program partners, the University of Phoenix Foundation and People To People Ambassador Programs. The Program is presented and sponsored by the ING Foundation and Minneapolis-based Target. Learn more about the program at www.ntoy.org.
8 NCTR 88TH ANNUAL CONVENTION SPEAKER BIOGRAPHIES
Beth Almeida joined the investment management business in 1991. Her experience at Callan includes all facets of In November 2007, Beth Almeida investment consulting, including investment policy was named the first executive analysis, asset and liability studies, as well as man- director of the National Institute ager search and structure. She has particular on Retirement Security (NIRS). expertise in international investing and currency During NIRS’s first full year of management. Her clients include corporate, public, operation, she directed the successful completion of and non–US based funds. numerous research products that are enhancing the She testifies before policymakers and speaks at ven- Janet joined the firm in 1994 from Qwest’s (formerly ues across the US and abroad regarding NIRS U S WEST) pension fund where she worked in the research and retirement security issues, and is regu- international equity, fixed income, and real estate larly cited in national, local, trade, and international areas. While at Callan, she has authored white news reports. papers on a variety of international investing issues and is a speaker at industry forums. Janet was Before joining NIRS, Ms. Almeida served as assis- named Money Management Letter’s 2003 Consultant tant director for strategic resources and as senior of the Year. economist with the International Association of Machinists and Aerospace Workers (IAM). There, Janet received an MBA in finance from the she was instrumental in transitioning some 40,000 University of Colorado and a BS in biology from the airline employees out of terminating or freezing pen- University of Texas. She has earned the right to use sions into the IAM’s multi-employer defined benefit the Chartered Financial Analyst designation. pension plan. Ms. Almeida also led research initiatives with the Mary Beth Braitman Center for European Integration Studies at the Mary Beth Braitman is a partner in University of Bonn, Germany; the European Institute the Indianapolis office of Ice for Business Administration in Fontainebleau, Miller, where she works with gov- France; and the Center for Industrial Competitiveness ernmental retirement systems on at the University of Massachusetts Lowell. She has federal tax questions, compliance authored numerous economic and pension publica- with federal law, fiduciary issues, and plan design tions and is a frequent speaker at domestic and innovations. Recent projects include international conferences. She also serves on the financing/designing health benefits, fiduciary audits Advisory Board of the Center for Retirement on governance and investment practices, qualified Research at Boston College’s initiative on state and excess benefit arrangements, correction projects, local government pensions, and on the Executive and design of compliance strategies. She represents Board of the Labor & Employment Relations a number of public retirement systems and educa- Association. tional institutions, and works with numerous public Ms. Almeida earned a Bachelor’s degree in interna- pension plans around the country on issues of tax, tional business from Lehigh University and a plan design, plan qualification, IRS compliance, fidu- Master’s degree in economics from the University of ciary, and health care. Ms. Braitman is a frequent Massachusetts Amherst. writer and speaker on public plan issues. Braitman is listed in The Best Lawyers in America Janet Becker-Wold Employee Benefits Law (1989–2010), Martindale- Hubbell Bar Register of Preeminent Lawyers Janet Becker-Wold, CFA, is a (2004–10), Who’s Who of American Women Senior Vice President, a General (2010–11 edition), Indiana Super Lawyers (2004–10), Consultant in the Denver office of and Who’s Who in America (2011). Callan Associates, Inc., and a shareholder of the firm. Janet
PRESERVING RETIREMENT SECURITY 9 SPEAKER BIOGRAPHIES
Braitman is a member of the Emeritus Board of the Management devoted to real estate, and he is part National Association of Public Pension Attorneys of the author team on the second edition of (NAPPA), as well as a member of the Advisory Board Commercial Real Estate Analysis and Investments, a of the National Council on Teacher Retirement graduate-level textbook published in 2007 by South- (NCTR), a member of the National Association of Western (now Cengage). Jim’s diverse research has Government Defined Contribution Administrators been widely published in both academic journals and (NAGDCA), the Indiana Municipal Lawyers industry periodicals, and he has presented at numer- Association, and the American College of Employee ous academic and industry events, both in the US Benefits Counsel. She is also a member of the IRS and abroad. He has significant experience with pro- Determination Liaison Group. fessional development courses and workshops, Braitman earned her Bachelor of Science degree in having developed and taught programs for the management from Indiana University, Bloomington, National Association of Industrial and Office and her Juris Doctorate, summa cum laude, from Properties (NAIOP), Urban Land Institute (ULI), Indiana University School of Law, Indianapolis. She Institutional Investors Inc, the MIT Center for Real joined Ice Miller in 1981, and is the co-chair of the Estate, and PricewaterhouseCoopers. He is currently Ice Miller Employee Benefits Group. Previously, an instructor in the Advanced Finance in Real Estate Braitman worked with the Internal Revenue Service program at the Harvard University Graduate School in the Employee Plans/Exempt Organization Division, of Design. working on qualification and tax issues involving Jim has an undergraduate degree in economics from retirement plans. Queen’s University, an MA in economics from the University of Western Ontario, and a PhD in real estate finance and urban economics from the Jim Clayton University of British Columbia. Jim Clayton, PhD, is Vice-President of Research at Cornerstone Real Estate Advisers LLC, a Hartford, Jack Ehnes Connecticut–based global real Jack Ehnes is the Chief Executive estate investment organization Officer of the California State that manages private and public real estate equity Teachers’ Retirement System and debt assets for institutional clients. Cornerstone (CalSTRS). Mr. Ehnes provides is part of the Mass Mutual Financial Group. At leadership for the second largest Cornerstone, he is responsible for monitoring and public pension fund in the nation, which serves more forecasting real estate and capital market trends and than 847,000 members and benefit recipients with delivering applied research and strategic thought an operating budget of approximately $163 million pieces to the firm’s leadership and investor clients. and 900 employees. As of June 30, 2010, the esti- Prior to joining Cornerstone in December 2008, Jim mated asset value of the investment portfolio is served for two years as the Director of Research at $129.8 billion. CalSTRS administers retirement, dis- the Pension Real Estate Association (PREA), a US ability, and survivor benefits for California’s public trade group representing firms in the institutional school educators in grades kindergarten through real estate investment industry. He previously held community college. faculty positions at the University of Cincinnati and Mr. Ehnes came to CalSTRS from Great-West Life & Saint Mary’s University (in Halifax, Nova Scotia), and Annuity Insurance Company (Denver, Colorado). is currently an adjunct professor in the Real Estate Among several duties as vice president for corporate Program at the University of Connecticut. affairs, Mr. Ehnes served as the trustee/plan admin- Jim sits on the editorial boards of three journals and istrator for Great-West’s employees’ defined benefit on the advisory board of the Real Estate Research and defined contribution plans. Prior to Great-West, Institute (RERI). He is a co-editor of the bi-annual Mr. Ehnes served as the Colorado Insurance special issue of The Journal of Portfolio Commissioner, deputy insurance commissioner, and
10 NCTR 88TH ANNUAL CONVENTION SPEAKER BIOGRAPHIES board trustee for the Colorado Public Employees’ Kevin Faxon Retirement Association, which included six years as Kevin Faxon, Managing Director, is chair and vice-chair of the board. head of the Real Estate Americas Mr. Ehnes currently serves on the boards of the investment business of J.P. National Institute on Retirement Security (NIRS) and Morgan Asset Management– Ceres (national network of investors and environ- Global Real Assets. Kevin sits on mental organizations working to address the board of the J.P Morgan India Property Fund, is a sustainability challenges); and also is a member of member of J.P. Morgan Asset Management’s the World Economic Forum’s Global Council on Aging Americas Executive Committee, and sits on the J.P. Society. Morgan Chase Commercial Real Estate Council. An As a recognized leader and public servant, Mr. Ehnes employee since 1988, Kevin was previously portfolio has served on high profile national task forces manager of the Special Situation Property Fund throughout his career, including the National (SSPF), a $3.5 billion value added portfolio, and a Association of Insurance Commissioners, and on var- member of the Income & Growth portfolio team. ious healthcare and insurance commissions, and Prior to assuming these roles, Kevin was head of advisory boards. acquisitions for the western US. Before joining the firm, he was employed by Landauer Associates, a Mr. Ehnes is a native of Rochester, New York, and national real estate consulting firm. Kevin holds a holds a Bachelor’s degree from Cornell University BS in real estate and finance from the University of and a Master’s degree from Vanderbilt University. Connecticut and an MBA in finance from New York He lives in Sacramento with his wife, Cindy, and University. He is a member of the Urban Land daughter Lacey and Amy. Institute and the Pension Real Estate Association (PREA) and holds FINRA Series 7 and 63 licenses. Allan Emkin Managing Director Allan Emkin Roger W. Ferguson, Jr. founded Pension Consulting Roger Ferguson is President and Alliance, Inc. (PCA), in 1988, with Chief Executive Officer of TIAA- offices in Los Angeles, Chicago, CREF, the leading provider of New York City, and Portland, Oregon. retirement services in the academ- Long a member of the consulting community, Mr. ic, research, medical, and cultural Emkin has 25 years of general consulting experience fields and a Fortune 100 financial services organiza- emphasizing public plan administration and invest- tion with more than $400 billion in combined assets ment policy, as well as international, global, and real under management. estate investments. Mr. Ferguson served as Vice Chairman of the Board Mr. Emkin was a Vice President at Wilshire of Governors of the US Federal Reserve System. He Associates before forming PCA. Prior to his work in was a voting member of the Federal Open Market the consulting field, Mr. Emkin worked in the Committee, served as Chairman of the Financial California Governor’s office in the Pension Investment Stability Forum, and chaired Federal Reserve Board Unit. Before joining the Brown administration, he committees on banking supervision and regulation, was a registered lobbyist for ten years, specializing in payment system policy, and reserve bank oversight. affordable housing and other matters affecting low- Prior to joining TIAA-CREF in April 2008, Mr. income families. Ferguson was head of financial services for Swiss Mr. Emkin is a frequent speaker at various confer- Re, Chairman of Swiss Re America Holding ences and educational seminars and has Corporation, and a member of the company’s execu- long-standing relationships with Liberty Hill tive committee. From 1984 to 1997, he was an Foundation in Santa Monica, California, as well as Associate and Partner at McKinsey & Company. He The Labor and Worklife Program at Harvard University. began his career as an attorney at the New York City office of Davis Polk & Wardwell.
PRESERVING RETIREMENT SECURITY 11 SPEAKER BIOGRAPHIES
Mr. Ferguson is a member of President Obama’s John Garrett Economic Recovery Advisory Board, the Board of John Garrett, is a Principal and Trustees of the Institute for Advanced Study, and the Consulting Actuary with Board of Overseers of Memorial Sloan-Kettering Cavanaugh Macdonald Consulting, Cancer Center. He serves on the Advisory Board of LLC (CMC). Since 1993, John has Brevan Howard Asset Management LLP and the served as an actuarial consultant Board of Directors of the Partnership for New York to numerous state and local government retirement City, and is a member of the Council on Foreign systems. Relations, the Economic Club of New York, the Harvard University Visiting Committee for the John’s expertise covers such areas as public plan Memorial Church, and the Group of Thirty. consulting, valuations, plan design, legislative impact analysis, experience studies, asset/liability Mr. Ferguson holds a BA, JD, and a PhD in econom- models, federal compliance and GASB issues, ics, all from Harvard University. deferred retirement option plans (DROP), partial lump-sum options (PLOP), work after retirement Cindy Fraterrigo (WAR), and retiree health care benefit plan design, valuations and funding strategies. Cindy Fraterrigo, is a principal at PricewaterhouseCoopers (PwC) in John has testified before several state legislative the Global Human Resource bodies and special committees and has spoken at Services practice in Chicago. several regional and national forums, including the Cindy has 17 years of experience National Council on Teacher Retirement, the working with employers in both the public and pri- Southern Conference on Teacher Retirement, and vate sectors where she has played an integral role in Government Finance Officers Association (GFOA). developing creative solutions for their benefit plans He is a credentialed professional actuary with the from both an HR and financial perspective. Cindy following designations: Associate, Society of has been involved with all aspects of retirement Actuaries; Member, American Academy of Actuaries; plans, including administration, funding, accounting, Fellow, Conference of Consulting Actuaries. plan design, and application of the Employee Prior to beginning his career as an actuary, John Retirement Income Security Act and the Internal served as an attack helicopter pilot in the US Army. Revenue Code. Cindy spent two-years on secondment to the PwC office in London where she specialized in Christopher T. Getter International Accounting for defined benefit plans Chris Getter is a senior vice presi- and share based payment plans. dent and product manager in the Newport Beach office of PIMCO, Cindy is a Fellow of the Society of Actuaries, an focusing on emerging markets Enrolled Actuary, and a member of the American investment solutions. Prior to join- Academy of Actuaries. She earned a BS in actuarial ing PIMCO in 2008, Mr. Getter spent 12 years as a science from the University of Illinois in research analyst for emerging market debt at Fidelity Urbana–Champaign, Illinois. Management & Research. He has 14 years of investment experience and holds an MBA from Boston College’s Carroll School of Management. He received an undergraduate degree from Canisius College.
12 NCTR 88TH ANNUAL CONVENTION SPEAKER BIOGRAPHIES
Mark Halperin Anne Jones Mark Halperin, editor-at-large and Anne Jones, RN, MBA, is a senior political analyst for TIME, National Business Executive in the covers politics, elections, and gov- Retiree Solutions Business Unit of ernment for the magazine and Humana, Inc. Anne joined the TIME.com. Halperin is also the Retiree Solutions Business Unit in creator and author of TIME.com’s “The Page,” a November of 2009 after supporting the team for sev- news and analysis tip sheet that gathers and edits eral years on Humana’s Medicare Clinical Programs. the latest political stories, campaign ads, TV clips, Anne has a key interest in working closely with the videos, and campaign reactions from every news consumers of health care after working on Senior source, along with Halperin’s own analysis. In addi- health care program development since 2006. She tion, Halperin is senior political analyst for MSNBC, works with public sector customers and prospects on where he appears regularly on Morning Joe and Medicare Advantage solutions to meet the unique other programs on the cable channel. needs of the public sector entity. She also works Prior to joining TIME in April 2007, Halperin worked with larger private sector prospects in finding the at ABC News for nearly 20 years, where he covered right solutions for post-65 retiree health care. five presidential elections and served as political Anne has been with Humana since 1998, primarily director from November 1997 to April 2007. In that working in the clinical areas of TRICARE, role, he was responsible for political reporting and Commercial and Medicare. She was responsible for planning for the network’s television, radio, and case management, medical review, utilization Internet political coverage. He also appeared regu- review, and preauthorization for the South Region, larly on ABC News TV and radio as a correspondent TRICARE. When working with the commercial seg- and analyst, contributing commentary and reporting ment, she established the Clinical Intake and Health during election night coverage, presidential inaugu- Planning and Support areas, as well as Case rations, and State of the Union speeches. Management. At ABC, Halperin reported on every major American Prior to working in the health plan arena, Anne political story, including working as a full-time worked for more than 20 years as a health care reporter covering the Clinton presidential campaign provider. As Service Line Director, she had oversight in 1992, and the Clinton White House. He also cov- for the emergency department, ICU, and transport ered major nonpolitical stories, such as the O.J. programs at Kapiolani Women and Children’s Simpson criminal trial and the Oklahoma City bomb- Hospital in Hawaii. She worked in Northwest Ohio ing. managing emergency departments, and in the organ Additionally, Halperin founded and edited the online procurement and transplant programs. publication The Note on abcnews.com, which was Anne has presented nationally on topics of organ characterized as the most influential daily tipsheet in procurement, and developing successful clinical pro- American politics by publications including The New grams to improve health member’s health status. Yorker, The New York Times, The Wall Street Journal, and Vanity Fair. Elizabeth Kellar He is the co-author of The New York Times #1 best- seller Game Change: Obama and the Clintons, Palin Elizabeth Kellar is the President and McCain, and the Race of a Lifetime (Harper, and Chief Executive Officer for the 2010); author of The Undecided Voter’s Guide to the Center for State and Local Next President (Harper Perennial, 2007); and co- Government Excellence. The author of The Way to Win: Taking the White House Center promotes excellence in in 2008 (Random House, 2006). public service so that local and state governments can attract and retain the talent they need. It identi- Halperin received his BA from Harvard University fies promising practices and publishes research on and resides in New York City with Karen Avrich.
PRESERVING RETIREMENT SECURITY 13 SPEAKER BIOGRAPHIES pension and retirement plans, health care, demo- P.J. received his BS in finance from Northern Illinois graphics, and workforce issues. University. He is also a CFA charterholder and a Ms. Kellar speaks and writes on a variety of issues member of CFA Institute and the CFA Society of affecting state and local governments, including Chicago. P.J. is an active participant in the finance ethics, workforce challenges, retirement and health committee for the Make-A-Wish Foundation® of plans, intergovernmental relations, international Illinois. municipal development, and emergency manage- ment. She also serves as Deputy Executive Director R. David Kelly of the International City/County Management Association (ICMA), overseeing public policy and David Kelly is an investment pro- representing the Association in national policy meet- fessional with more than 27 years ings. of experience in the real estate and investment banking industries. She is a Fellow in the National Academy of Public His employment history includes Administration (NAPA) and has served as chair for Goldman Sachs, Citicorp, and The Trammell Crow NAPA’s Standing Panel on the Federal System. She Company. Mr. Kelly has worked on large capitaliza- serves on the Advisory Council, American University tion mergers and acquisitions, general corporate School of Public Affairs, and on the Editorial Board, finance, and principal investments. He has extensive Public Administration Review. real estate development and investment experience. For the past 15 years, he has been the development Patrick J. Kelly (PJ) and financial advisory partner of Carleton Residential Properties, one of the US’s premier residential real PJ Kelly, CFA, an EnnisKnupp prin- estate firms. During this time, the firm has built cipal, serves as a primary more than 12,000 units of housing and its clients consultant and manages consult- have received six development contracts from the ing assignments for a select US government, totaling more than $400 million. number of EnnisKnupp retainer and project clients. He is a member of the firm’s Since 2007, Mr. Kelly has served as a trustee of the client advisory group and works with a wide variety Teacher Retirement System of Texas (TRS). With of client types, including Taft-Hartley, public, corpo- more than 1.2 million members and more than $97 rate, and not-for-profit. P.J. has spoken frequently billion in assets, TRS is the 17th largest pension plan before industry groups on a broad range of topics sponsor in the world. The plan is a global investor pertaining to Taft-Hartley and public clients and gen- with a modified endowment investment strategy. eral consulting. He also serves on the advisory TRS makes investments in publicly traded securities, council for real estate, private equity, opportunistic private equity, real estate, hedge funds, infrastruc- strategies, and the trust groups. He joined the firm ture, and commodities. Mr. Kelly has been the in 1996. system’s Board Chairman since November 2009. In recent activities, P.J. has: conducted an asset-lia- From 2001–07, Mr. Kelly served as Chairman of the bility and asset allocation study for a multi-billion Texas Public Finance Authority (TPFA), one of the state-wide public pension plan; implemented alloca- State of Texas’s primary debt issuers. During his tions to private equity, real estate, and infrastructure tenure, TPFA issued more than $4 billion of securi- for a multi-billion-dollar defined benefit pension ties through secured and unsecured financings on plan; contributed to policy research positions on cur- behalf of various agencies and departments of the rency and infrastructure; and spoken at several state. industry conferences on a wide variety of topics, Mr. Kelly is a graduate of Harvard University (John ranging from manager risk analysis to global equity Harvard Scholar, Economics) and completed an MBA mandates. at Stanford University Graduate School of Business Administration.
14 NCTR 88TH ANNUAL CONVENTION SPEAKER BIOGRAPHIES
Pamela R. Kinard Peter Leyden Ms. Kinard is currently the Assistant Branch Chief of Peter Leyden, technology and Qualified Plans Branch 2 (Tax Exempt and future trends expert, and author is Governmental Entities) at the Internal Revenue the perfect person to tell the big- Service. She is the drafting attorney on several picture story that connects many guidance projects, including the governmental plan disparate fields. His career has regulations, regulations relating to plans of Indian tracked the different stages of this unfolding story. Tribal Governments, and the regulations relating to Leyden deeply understands the technology and new nonqualified deferred compensation plans described media, having served as managing editor of the orig- in section 457(f) of the Internal Revenue Code. She inal Wired magazine, which introduced the digital received her LL.M. degree in taxation from revolution to the world and pioneered the early Georgetown Law School in 1996, a law degree from online world of the web. Out of that experience, Cornell Law School in 1993, and an undergraduate Leyden co-authored the book The Long Boom, a degree in political science from American University. History of the Future, 1980–2020, which was trans- She was Managing Editor of the Cornell Law Review lated into half a dozen languages. in 1993. Her note, “Women in the Crossfire: Should Leyden gets the economics and business, having the Court Allow It?” was published in 78 Cornell Law worked for years at Global Business Network, a pio- Review, 252 (1993). neering think tank on future trends and a high level strategy consulting firm that advises many top global Warren N. Koontz, Jr. corporations. While there, he co-authored the book What’s Next, Exploring the New Terrain for Business, Warren Koontz, CFA, CIC, is a vice on what to expect in the 10 years after the president of Loomis, Sayles & September 11th attack. Company and portfolio manager for the Loomis Sayles equity Leyden understands the globalized world, particular- group. Warren is co-manager of ly Asia, having worked as a special correspondent the Loomis Sayles Value and Global Markets funds for Newsweek magazine in Asia, including doing and the Loomis Sayles Large Cap Value, Focused stories in China just after the Tiananmen Square Value and Global Equity Opportunities portfolios. He massacre. He also has traveled to more than 50 also acts as chief investment officer of the Large countries in all major regions of the world, including Cap Value strategy. Warren joined Loomis Sayles in Africa, the Middle East, and Latin America. 1995 and has 26 years of investment management Leyden recently has focused much of his energy on experience. He previously worked as a senior port- politics, having just finished several years as director folio manager at Comerica Bank, where he was of the New Politics Institute, a think tank that helps responsible for the management of several high pro- people in politics understand the emerging new file investment relationships and was actively technologies, new media, and the new demographic involved in the investment policy committee. reality of America. He is based in San Francisco, Warren also worked as chief investment officer for where he lives with his wife and 15-year-old daugh- The Jeffrey Company, a private investment firm. ter, but he spends much time in Washington, DC, Additionally, he worked for the Ohio Public where, among other things, he has twice addressed Employees Retirement System as a securities ana- the Democratic Caucus of the US House of lyst and assistant investment officer. Warren is a Representatives, as well as the Democratic Caucus former member of the Candidate Curriculum for CFA of the US Senate. Exams. He earned a BS and an MBA from Ohio State Leyden has a Master’s degree in comparative politics University. as well as a Master’s in journalism from Columbia University, and did his undergraduate work at Georgetown University, where he graduated summa cum laude.
PRESERVING RETIREMENT SECURITY 15 SPEAKER BIOGRAPHIES
Thomas R. Lussier From 2002 to 2008, based in London, Mr. Lytle was Manager of the Global Equity Portfolio Management Tom Lussier is President of Lussier, team, overseeing the management of more than Gregor, Vienna & Associates, Inc. USD 22.5 billion in client assets for large institution- (LGV&A), a governmental affairs al Public Fund, Corporate Fund, Sovereign Wealth consulting firm based in Fund, and Wealth Management clients around the Alexandria, Virginia. Prior to world. forming LGV&A, he served as Executive Director and CEO of the Massachusetts Teachers’ Retirement Mr. Lytle began his career with J.P. Morgan Asset System. For nearly 19 years, he was responsible for Management in New York in 1992, where he held the administration of retirement benefits for approxi- various positions, including new business develop- mately 110,000 active and retired teachers and ment and the development of the Mutual Fund school administrators of the Commonwealth of business in the US. He then relocated to London Massachusetts. where he served as a Client Portfolio Manager for Global Equity and Global Sector portfolios until he Mr. Lussier has served as President of the National joined UBS Global Asset Management in 2002. Council on Teacher Retirement (NCTR); Chairman of the Coalition to Preserve Retirement Security (CPRS); Mr. Lytle earned his BA from Georgetown University. and President of the National Preretirement He is married with two children, and enjoys golf, Education Association (NPEA). He has been an triathlons, and travel. instructor with the International Foundation of Employee Benefit Plans’ Certificate of Achievement Lisa Mezzetti in Public Plan Policy (CAPPPTM) in Employee Pensions and is a former member of the Foundation’s Public Lisa Mezzetti is a partner at the Employee Committee. class action law firm of Cohen Milstein Sellers & Toll PLLC. She He served as the First Deputy Commissioner of the represents institutional investors Massachusetts Division of Public Employee and other shareholders of publicly- Retirement Administration and was elected to four traded corporations in securities fraud class actions, terms in the Massachusetts House of and purchasers of products and services in consumer Representatives. law cases. She also has litigated ERISA class actions, and brought one of the first class actions Shawn Lytle filed under the federal Family and Medical Leave Act. In her 30-year career, she has served as Shawn Lytle, UBS’s Head of Co–Lead Counsel in dozens of class actions, all Americas, Global Asset national in scope. Management Managing Director, was appointed Head of Americas Ms. Mezzetti is a public arbitrator for FINRA (the in April 2010, relocated from Financial Industry Regulatory Authority), hearing dis- London to New York, and is responsible for manag- putes between customers and brokers. ing and developing all aspects of the Institutional She has had a long-standing focus on corporate gov- and Wholesale business in the US, Canada, and ernance issues; her latest publication is Corporate Latin America. Governance and the Impact of Controlling Prior to this appointment, Mr. Lytle served as Deputy Shareholders, Corporate Governance Advisor, Vol. Global Head of Equities (2008–10), overseeing busi- 18, No. 1 (Jan.–Feb. 2010) (co-authored with D. ness product and distribution issues, and supporting Schlimm and B. Sharfman). 14 Equity teams across UBS’s main investment cen- Outside her law practice, Lisa has served for many ters, as well as the capability strategists in client years as a Board Member for nonprofit organizations and consultant relationships. The Financial Women’s Association of New York and The International Alliance for Women, both of which
16 NCTR 88TH ANNUAL CONVENTION SPEAKER BIOGRAPHIES unite, support, and promote professional women. For 12 years prior to joining NCTR, Mr. Mosman They are active in mentoring systems and financial directed the California State Teachers’ Retirement literacy programs for girls and women, and sponsor System (CalSTRS), the nation’s third largest pension microfinance loan programs for women in impover- fund. During his tenure, the investment portfolio ished areas. She also has served on the DC grew from $24.3 billion to $105 billion and member- Advisory Board of The Joffrey Ballet of Chicago. ship increased by approximately 222,000. Ms. Mezzetti graduated from the Columbus School For three years prior to CalSTRS, Mr. Mosman direct- of Law, Catholic University of America, and received ed the California Department of Personnel her Master of Laws degree, with a specialty in Administration and served as an ex-officio member Securities Regulation, from Georgetown University on the Board of the California Public Employees’ Law Center. Her Bachelor’s degree was awarded by Retirement System (CalPERS). Stonehill College (BA, English, magna cum laude). During his tenure with CalSTRS, he was active in professional associations affiliated with the pension Joseph H. Morgart industry, including serving as President and Treasurer of the California Association of Public Retirement Joseph Morgart is Senior Vice Systems (CALAPRS), and serving on NCTR’s President, Alternative Investment Executive Committee for seven years and also on the Strategies, at Pyramis Global Executive Committee of the Council of Institutional Advisors, a unit of Fidelity Investors. He currently serves on the Board of the Investments. In this role, he is National Institute of Retirement Security. responsible for product development, product posi- tioning and sales, and client service support for Mr. Mosman has a BS in business administration Pyramis alternative investment funds. from the University of Oregon and an MPA from the University of Southern California. Prior to assuming his current role in 2007, Joe was co-founder and managing partner of Boldwater Capital Management, an alternative investments Joseph P. Newton firm focused on credit strategies for institutional Joe Newton, FSA, EA, is a Senior clients, from its formation in January 2001 until Consulting Actuary for Gabriel November 2007. Prior to co-founding Boldwater, Joe Roeder Smith & Company (GRS) was with DB Alex Brown for seven years where he and also serves as the Pension focused on a range of alternative investment strate- Team Leader for the Southwest gies. Over his 20 year career, Joe also held positions Region of GRS. Joe has spent his entire career serv- at Anchor/Russell Capital Advisors, Bank of Boston, ing large, public sector retirement systems, such as and IBM Corporation. TRS of Texas, FPPA of Colorado, Hawaii ERS, ERS of Joe earned a Bachelor of Arts degree from Johnson Rhode Island, and Texas MRS. State College and a Master’s degree in Business Over his career, Joe has worked on projects for more Administration from Northeastern University. He than 15 statewide retirement systems and more than holds the Financial Industry Regulatory Authority 50 municipal retirement and healthcare systems. For (formerly NASD) Series 7 license. all of his clients, he performs valuation services, actuarial experience investigations, and consulting Jim Mosman services; including testifying before decisions-mak- ing bodies and legislative committees. Jim Mosman enjoyed a 30-year career in state government before Joe is a Fellow in the Society of Actuaries and holds becoming Executive Director of the BAs in mathematics and business administration National Council on Teacher from Austin College (Sherman, Texas). Retirement (NCTR) in January 2002.
PRESERVING RETIREMENT SECURITY 17 SPEAKER BIOGRAPHIES
Kim Nicholl Patrick L. Pechacek Senior Vice President and Pat Pechacek, CEBS, has more Consulting Actuary Kim Nicholl, than 25 years of experience and FSA, FCA, MAAA, EA, joined The holds a leadership position in the Segal Company as the National public sector benefits practice of Public Sector Retirement Practice Deloitte Consulting LLP in Leader in 2010. She has actuarial and consulting Minneapolis. Pat is responsible for delivery of servic- experience with a wide variety of clients in the pub- es to State employee group insurance, retiree health, lic sector. Ms. Nicholl, who has more than 25 years’ and local government health plans. His current experience, has consulted on the design and inter- clients include State of Minnesota State Employees pretation of plan provisions for defined benefit (DB) Group Insurance Program; State of Minnesota Public and defined contribution (DC) retirement plans, and Employees Insurance Program; State of Wisconsin on their relationship to ERISA, IRS regulations, and Department of Employee Trust Funds; State of North new legislation. Her experience includes all aspects Dakota Public Employees Retirement System; State of employee benefit programs. of Iowa Human Resources Enterprise; Minnesota Ms. Nicholl’s specialized expertise includes: super- Department of Corrections; and Hennepin, Dakota, vising, reviewing, and certifying actuarial valuations and Ramsey Counties. He has served as a strategic and studies for DB retirement plans and postretire- advisor to the client service teams for the states of ment health care plans; analyzing benefits provided Connecticut, Georgia, and Illinois. from DB, DC, and postretirement health care plans Mr. Pechacek is a Certified Employee Benefits for purposes of restating retirement income policies, Specialist (CEBS), and is a Past President of the Twin with recommendations based on client goals; per- Cities Chapter of the International Society of CEBS. forming plan design analyses for public pension and He is also an Associate Member of the State and postretirement health care plans; performing experi- Local Government Benefits Association (SALGBA). ence analysis studies resulting in changes to Mr. Pechacek received his Bachelor’s degree from actuarial assumptions used in the actuarial valua- the University of Minnesota. tions of defined benefit retirement plans; and performing asset/liability modeling studies for large retirement plans. Bill Raabe Ms Nicholl speaks frequently at professional organi- Bill Raabe is National Education zations and has provided educational sessions for Association’s (NEA) Director of the Boards and Staff of public pension retirement Collective Bargaining & Member systems. She has testified before numerous state Advocacy (CB&MA). In this posi- legislative bodies and currently serves on the tion, he is responsible for leading American Academy of Actuaries Public Pensions the Association’s efforts in the areas of Collective Subcommittee. Published works include Bargaining, Compensation, Health Care, and “Understanding Pension Obligation Bonds,” Benefits Retirement Benefits. In addition, he oversees the and Compensation Digest (IFEPB), July 2007; and administration of NEA’s Legal Services Program, “Actuarial Impact on Pension Funds Due to Educators Employment Liability Insurance, Fidelity Divestment,” National Association of State Bond, Association Professional Liability, and Retirement Administrators, January 2008. Attorney Referral Program. Ms. Nicholl graduated magna cum laude from Loyola Mr. Raabe’s career with the association includes University with a BS in mathematics. She is a Fellow time spent as a local leader, state affiliate staff, the of the Society of Actuaries and the Conference of Director of Collective Bargaining in his home state Consulting Actuaries, a Member of the American NEA Affiliate, Education Minnesota, and the Academy of Actuaries, and an Enrolled Actuary Manager of NEA’s training division. In these posi- under ERISA. tions, he has bargained hundreds of school employee contracts using traditional and interest-
18 NCTR 88TH ANNUAL CONVENTION SPEAKER BIOGRAPHIES based processes, advocated for school employees at billion dollars as the assistant treasurer for the state the local and legislative level, researched school of Louisiana. In 1993, he founded Tulane’s highly employee compensation and compensation strate- acclaimed BURKENROAD REPORTS stock research gies, and authored articles on the use of collective program. bargaining to improve teaching and learning condi- He has been featured on CNN and CNBC, as well as tions and student achievement. in The New York Times, BARRON’S, The Washington Bill has a degree in education, spent seven years in Post, and The Wall Street Journal. Peter has pre- the classroom, and completed his graduate work in sented to a wide variety of audiences throughout the the areas of school finance, school business man- world. agement, the conditions of quality teaching and learning, and has earned a certificate in Organization Development from the National Training Laboratory. Jeffrey C. Slocum Outside of work, Bill is an avid runner and has com- In 1986, Jeff Slocum started the pleted more than 30 marathons and hundreds of institutional investment consulting shorter races. firm, Jeffrey Slocum & Associates, Inc., where he serves as President. The firm today advises more than Diane Ravitch 100 clients—Defined Benefit and Defined Diane Ravitch is Research Contribution pension funds, healthcare and insur- Professor of Education at New ance operating assets, endowments, foundations, York University and a senior fellow Native American tribal authorities, and religious at the Brookings Institution. From organizations—with aggregate assets of some $85 1991 to 1993, she was Assistant billion. Slocum helps clients implement a disciplined Secretary of Education and Counselor to Secretary of investment process encompassing strategic plan- Education Lamar Alexander in the administration of ning, asset allocation, policy setting, manager President George H.W. Bush. President Clinton selection, and performance monitoring. appointed her to the National Assessment Governing An early proponent (1991) of long/short strategies in Board, which oversees federal testing. She is the investment structures, Jeff’s efforts to build out the author or editor of more than 20 books, including The unique skill sets to perform rigorous and insightful Death and Life of the Great American School manager research resulted in the firm’s pioneering System, The Language Police, and Left Back, and her adoption of a heavily qualitative focus to all invest- articles have appeared in numerous newspapers and ment manager research. magazines. A native of Houston, Ravitch graduated Jeff is also a Managing Member of Northside from the Houston public schools, Wellesley College, Capital Management, LLC, a private wealth manage- and Columbia University. She lives in Brooklyn, ment firm he co-founded in 1996. Northside New York. provides the same sorts of services as Slocum. Northside and Slocum’s combined 82-person staff Peter Ricchiuti collaborates on investment manager and capital markets research. A funny economist? Peter Ricchiuti (Ri-Shooty) is the business school Before starting Slocum and Northside, Jeff was a professor you wish you had back in Senior Consultant in the Merrill Lynch Consulting college. He teaches courses on the Group. Coming out of college, Jeff held positions as financial markets at Tulane the Director of Annual Giving for Carleton College University’s A.B. Freeman School of Business and and as a Strategic Planning Analyst for the has twice been named the school’s top professor. Continental Illinois National Bank and Trust of Chicago. Peter started his career with the investment firm of Kidder Peabody and later managed more than three
PRESERVING RETIREMENT SECURITY 19 SPEAKER BIOGRAPHIES
Jeff earned an MBA from the University of Chicago, Ronald K. Snell an MIM from the American Graduate School of Ron Snell is Director of the State International Management (Thunderbird), and a BA Services Division at the National from Carleton College. Jeff is on the boards of Twin Conference of State Legislatures Cities Public Television and the Breck School. (NCSL), which includes NCSL’s principal state legislative support Leigh Snell programs—Legislative Management, Legislative Information Services, and the Fiscal Affairs Program. Leigh Snell is the Federal Those programs provide research, technical assis- Relations Director for the National tance to legislatures, and training sessions for Council on Teacher Retirement legislators and staff. He has been a member of the (NCTR). NCTR represents 69 state, NCSL staff since 1988. Snell has published numer- territorial, and local pension sys- ous articles and papers on state fiscal affairs, tems serving more than 18 million active and retired budget processes in state legislatures and state pen- teachers, non-teaching personnel, and other public sions, and retirement policy. He also is lead staff for employees. the NCSL standing committees in the Denver office. While Mr. Snell has represented public and private Snell holds a BA from Bates College and a PhD from sector clients before the US Congress, as well as the Princeton University, both in history. Executive branch and a number of regulatory agen- cies since 1980, his focus has been primarily on public pension plans and their issues. His areas of David A. Stella expertise include retirement policy, taxation, and Dave Stella, CEBS, CRA, Secretary securities regulation. He is also the co-author of of the Wisconsin Department of Public Pensions & You: Going UP to the Trustee Employee Trust Funds, is responsi- Level, a handbook for public pension trustees, ble for overseeing the provision of administrators, and staff, written for the National employee benefit plans covering Council on Public Employee Retirement Systems more than 567,000 participants and more than $74 (NCPERS). billion in assets. He has more than 24 years’ experi- Mr. Snell came to Washington, DC, in 1972. He ence in managing and administering retirement, joined the staff of the Federal Trade Commission deferred compensation (457), tax sheltered annuity (FTC) and served as a special assistant to then- [403(b)], and group health and life insurance plans Commissioner Elizabeth Hanford, who subsequently offered to state and local government employees. married former US Senator Robert Dole (R–KS) and He has more than 38 years’ experience in a variety was herself a US Senator from North Carolina from of public sector positions in Wisconsin and Colorado. 2003 to 2009. In 1975, Mr. Snell left the FTC to Mr. Stella holds Bachelor’s and Master’s degrees become a member of the legislative staff of former from the University of Wisconsin–Madison and has US Senator Sam Nunn (D–GA), where he served for earned the designation of Certified Employee five years, eventually becoming the Senator’s Benefits Specialist (CEBS) from The Wharton School Legislative Director. of the University of Pennsylvania and the A native Floridian, Mr. Snell received a BA in history International Foundation of Employee Benefit Plans. from Duke University and a JD from the Georgetown Mr. Stella also has been awarded the designation of University Law Center. Certified Retirement Administrator through the International Foundation for Retirement Education.
20 NCTR 88TH ANNUAL CONVENTION SPEAKER BIOGRAPHIES
Dennis Sugino Business and St. Ignatius College Preparatory, where he serves as Chairman of the Board of Dennis Sugino is President and a Trustees. He is also an appointee to the Board of founding principal of Cliffwater, the Illinois Sports Facilities Authority, which is the LLC, an institutional alternative owner and operator of U.S. Cellular Field—home of investments consulting firm. The Chicago White Sox. Mr. Thompson received his Founded in 2004, the firm is cur- Bachelor of Arts degree in American history from rently one of the largest alternative investments Providence College and an MBA from The University consulting firms with more than $20 billion of client of Chicago Graduate School of Business. He has 20 allocation and 40 investment professionals in Los years of financial industry experience. Angeles and New York City. Dennis served as a Managing Director and Principal of Wilshire Associates from 1992 to 2004, where he John Virtanen advised public funds, corporate plans, and endow- John Virtanen is the Managing ments/foundations with more than $80 billion in Director responsible for commer- assets on their investment and implementation cial real estate related strategies. Previously, Dennis served as the Chief investments for the New York Investment Officer of the Los Angeles Fire and Police State Teachers’ Retirement Pension System where he was responsible for its System. He has 34 years of real estate experience, multibillion dollar investment fund. Dennis earned a 33 years of which is with the System. Following a BS from California State University, Dominquez Hills, brief stay at a property appraisal company, Mr. and an MA from the University of California, Los Virtanen joined the Retirement System as a member Angeles. Dennis is a member of the CFA Institute of the mortgage servicing team. Since that time, he and the Los Angeles Society of Financial Analysts. has been responsible for the administration of a large commercial mortgage portfolio, including deal- ing with problem loans and working on loan Peter Q. Thompson modifications, working in commercial mortgage orig- Peter Thompson is Chief Executive ination, management of the commercial mortgage Officer of Perkins Investment lending program, management of the equity real Management LLC (Perkins). In estate investment program, and the oversight of all this capacity, Mr. Thompson is real estate related investment programs. Mr. responsible for the day-to-day Virtanen holds a BS degree in economics from Siena management of Perkins, including: operations, prod- College and an MBA from Union College. uct development, marketing, and charting the strategic direction of the firm. Additionally, he serves as Chairman of the Board of Perkins Investment Management. Prior to joining Perkins in January 2009, Mr. Thompson served as President and Chief Executive Officer of Chicago Asset Management Company LLC. Additionally, from 1994–2006, he was a member of the senior leadership team at Ariel Capital Management, LLC, where he served as Executive Vice President and a member of the Board of Directors, and was instrumental in all firm-wide strategic decisions. Mr. Thompson serves on a variety of boards, includ- ing the University of Chicago Booth School of
PRESERVING RETIREMENT SECURITY 21 SPEAKER BIOGRAPHIES
Bryce A. Williams Meredith Williams Bryce Williams co-founded Extend Meredith Williams is the Executive Health, Inc., in April 2004 and Director of the Public Employees’ serves as the company President Retirement Association of and CEO. Extend Health pioneered Colorado (Colorado PERA). In that and operates the largest Medicare capacity, he serves as the chief plan exchange in the US and has helped more than executive officer of the $32 billion Association, 250,000 retirees compare and choose the private reporting to a 16-member Board of Trustees. The Medicare plan that best meets their needs and Association serves as the pension fund for 450,000 budgets. Extend Health offers Medicare Advantage, current and retired Colorado public servants. Medicare Supplement and Part D plans from more Meredith started his professional career as a junior than 55 of the nation’s major health insurance carri- accountant with the Kansas Legislative Division of ers including Aetna, Cigna, United, WellPoint, Post Audit, the audit arm of Kansas government. He HealthNet, Humana and dozens of Blue Cross Blue served as Kansas’ Legislative Post Auditor from 1983 Shield Association plans. With Extend Health until his 1991 appointment as Executive Secretary of employer solutions, Fortune 500 companies, unions, the Kansas Public Employees Retirement System. and municipalities can save up to 35% on retiree He was appointed to his current position at Colorado health care compared to legacy employer group PERA in March of 2000. plans. The company estimates that its Medicare insurance exchange has resulted in more than $1 bil- Meredith is a graduate of the University of Kansas lion in savings for US employers providing retiree with a degree in business administration and eco- health benefits. nomics. He received his law degree in 1975 from Washburn University School of Law, Topeka. Prior to Extend Health, Mr. Williams was Vice President of Business Development and Senior Vice Meredith is an active member of several profession- President of Marketing with eHealth, Inc. eHealth is al organizations. He currently serves on the Editorial the parent company of eHealthInsurance Services, Board of the Journal of Government Financial Inc. Mr. Williams joined eHealth in April of 1999 Management and has served as the national presi- and built their Internet, affiliate, corporate, and part- dent of the Association of Government Accountants. ner demand channels. Meredith is the past chair of the Council of Institutional Investors and the past president of the The company’s venture investors include Revolution National Council on Teacher Retirement. Meredith and Psilos Group Managers. Since January 1, 2006, has published and lectured widely on the subject of Extend Health has launched dozens of corporate public sector accountability and oversight. He coau- benefit programs for clients that include the Sam’s thored the 1982 John Wiley & Sons text, Auditing Club division of Wal-Mart Stores, DaimlerChrysler, Performance in Government. He has also served as Ford Motor Company, General Motors, Whirlpool, an adjunct professor on the faculty of the University 3M Corporation, Eastman Chemical, Kellogg’s, and of Kansas. other Fortune 500 clients. Based in Burlingame, California, with a customer service center in Salt Lake City, Utah, the Company employs more than 500 people nationwide. The companies’ regional locations include offices in Atlanta, Chicago, Dallas, Detroit, Hartford, New York and Orlando.
22 NCTR 88TH ANNUAL CONVENTION SPEAKER BIOGRAPHIES
Nancy A. Williams Martha Lee (Marti) Zins Nancy Williams is a Principal with Marti Lee Zins, Board President the Chicago firm of Ennis Knupp & and Elected Trustee (Retiree) of the Associates. She co-leads the firm’s Minnesota Teachers Retirement efforts in the areas of board gover- Association (TRA) was a media nance, fiduciary audits, strategic specialist, then media director for planning, trustee education, and operational the Hopkins School District. Marti was elected to reviews. her sixth term on the Board of Trustees in 2009. She She has more than 30 years of experience as an is a past president of the Minnesota Education attorney and a consultant. During that time, she has Association (MEA), and represented Minnesota worked with more than 100 public funds (retirement teachers as a director of the National Education systems and state investment boards) in the US and Association (NEA). A TRA trustee since 1989, Zins several national pension systems in other countries. serves the needs of Minnesota teachers with a spe- cial emphasis on the expansion of automated Prior to joining the firm in 2005, Nancy was the services that increase accessibility of information to National Governance and Policy Unit Leader at members and retirees throughout the state. She Mercer Investment Consulting; and prior to that, the works to maintain the funding stability of TRA and of National Public Sector Practice Leader at Mercer defined benefit public pension plans. Zins is fortu- Human Resource Consulting. In addition to her expe- nate to work with a great staff and board at TRA. rience at Mercer, Nancy served as the Deputy Director and General Counsel for the Colorado Public Employees’ Retirement Association. She was also the General Counsel to the State Teachers Retirement System of Ohio and a trustee on public retirement boards early in her career as the Ohio Future NCTR Annual Attorney General’s representative. Conventions Nancy holds a BS from Ohio State University and a JD from Capital University Law School where she was an editor of the Law Review. Some of Nancy’s 2011 affiliations include: Founder and Past President of Baltimore Hilton the National Association of Public Pension Attorneys Baltimore, Maryland (NAPPA), Advisor to the Commissioners on Uniform October 8–13 State Laws (Model Public Pension Fund Management Act), Advisor to the CFA Institute, Past Executive Board Member of the National Conference 2012 of Public Employee Retirement Systems (NCPERS), Loews Ventana Canyon Advisor to the National Association of Corporate Tucson, Arizona Directors, Past Committee Member of the National October 6–11 Council on Teacher Retirement, Advisory Committee Member of the National Association of State Retirement Administrators, and Committee Member 2013 of the International Foundation of Employee Benefit Omni Shoreham Hotel Plans. Washington, DC October 5–10
PRESERVING RETIREMENT SECURITY 23 OUR GRACIOUS SPONSORS
National Council on Teacher Retirement
88TH ANNUAL CONVENTION Sponsors
I I I
Please take time to thank the following sponsors whose generous support has helped make the 88th NCTR Annual Convention a great success.
Thank You!
24 NCTR 88TH ANNUAL CONVENTION OUR GRACIOUS SPONSORS
AllianceBernstein 1345 Avenue of the Americas New York, NY 10105 www.alliancebernstein.com Liz Smith, Senior Managing Director, Public Funds: 212-969-1168; [email protected] Vicki Fuller, Managing Director, Public Funds: 212-969-2266; [email protected]
Bernstein Litowitz Berger & Grossmann LLP 1285 Avenue of the Americas New York, NY 10019 www.blbglaw.com Tony Gelderman 504-899-2339; [email protected]
PRESERVING RETIREMENT SECURITY 25 OUR GRACIOUS SPONSORS
Buck Consultants 500 Plaza Drive Secaucus, NJ 07096 www.buckconsultants.com Janet Cranna, Principal and Consulting Actuary: 201-902-2834; [email protected] Larry Langer, Principal and Consulting Actuary 312-846-3669; [email protected]
Cavanaugh Macdonald CONSULTING,C O N S U L T I N G , LLCL L C The experience and dedication you deserve
Cavanaugh Macdonald Consulting, LLC 3550 Busbee Pkwy, Suite 250 Kennesaw GA 30144 www.CavMacConsulting.com Ed Macdonald, President: 678-388-1701; [email protected] Tom Cavanaugh, CEO: 678-388-1708; [email protected]
26 NCTR 88TH ANNUAL CONVENTION OUR GRACIOUS SPONSORS
Cohen Milstein Sellers & Toll PLLC 1100 New York Avenue NW Suite 500 West Tower Washington, DC 20005 www.cohenmilstein.com Lisa M. Mezzetti, Partner: 202-408-4600; [email protected] Steven J. Toll, Managing Partner and Head of Securities Fraud Practice: 202-408-4600; [email protected]
Cornerstone Real Estate Advisers LLC One Financial Plaza Hartford, CT 06103-2604 www.cornerstoneadvisers.com John Gorham, Vice President–Business Development and Client Relations: 312-786-3577; [email protected] Graham Bond, Managing Director–Business Development and Client Relations: 860-509-2280; [email protected]
PRESERVING RETIREMENT SECURITY 27 OUR GRACIOUS SPONSORS
Gabriel, Roeder, Smith & Company One Towne Square, Suite 800 Southfield, MI 48076 www.gabrielroeder.com Brian Murphy, President: 248-799-9000; [email protected] Mark Randall, Executive Vice President: 469-524-1803; [email protected]
J.P. Morgan Asset Management 270 Park Avenue New York, NY 10017 www.jpmorgan.com/institutional Charles E. Stebbins, Managing Director: 212-622-0136; [email protected] Jeffrey A. Fox, Vice President: 561-615-1153; [email protected]
28 NCTR 88TH ANNUAL CONVENTION OUR GRACIOUS SPONSORS
Janus Capital Group 151 Detroit Street Denver, CO 80206 www.janusinstitutional.com Chad Gross, Vice President, Institutional Investments: 303-336-4553; [email protected] Taylor Carrington, Vice President, Institutional Investments: 303-336-4227; [email protected]
Lazard Asset Management 30 Rockefeller Plaza, 57th Floor New York, NY 10112 www.lazard.com Anthony Dote, Managing Director: 212-632-6439; [email protected]
PRESERVING RETIREMENT SECURITY 29 OUR GRACIOUS SPONSORS
Loomis Sayles & Company, Inc. One Financial Center Boston, MA 02111 www.loomissayles.com Charles K. Koeniger, Vice President, Public Fund Services: 617-478-7465; [email protected] William J. Averill, Vice President, Public Funds Services: 617-960-2019; [email protected]
Morgan Stanley Investment Management 522 Fifth Avenue New York, NY 10036 www.morganstanley.com/msim Ken Tollmann, Executive Director: 415-576-8704; [email protected] David Burbie, Executive Director: 213-236-3529; [email protected]
30 NCTR 88TH ANNUAL CONVENTION OUR GRACIOUS SPONSORS
PIMCO 840 Newport Center Drive Suite 100 Newport Beach, CA 92660 www.pimco.com James Clarke, Senior Vice President: 212-739-3605; [email protected] Kevin Gray, Account Manager: 949-720-4871; [email protected]
PricewaterhouseCoopers One North Wacker Drive Chicago, IL 60606 www.pwc.com Cindy Fraterrigo, Principal: 312-298-4320; [email protected] Sheldon Gamzon, Principal: 646-471-7857; [email protected]
PRESERVING RETIREMENT SECURITY 31 OUR GRACIOUS SPONSORS
Prudential Financial, Inc. 100 Mulberry Street Gateway Center Three, 15th Floor Newark, NJ 07102 www.prudential.com Kevin A. Myers, Senior Managing Director, Institutional Marketing & Distribution, US: 973-367-5222; [email protected]
Pyramis Global Advisors 900 Salem Street Smithfield, RI 02917 www.Pyramis.com Art Greenwood, Senior Vice President, Sales Relationship Manager: 401-292-4729; [email protected] Sue Curran, Senior Vice President, Sales Relationship Manager: 401-292-4722; [email protected]
32 NCTR 88TH ANNUAL CONVENTION OUR GRACIOUS SPONSORS
Spector Roseman Kodroff & Willis, PC 1101 Pennsylvania Avenue, NW Suite 600 Washington, DC 20004 www.srkw-law.com Mark Willis, Partner: 202-756-3601; [email protected] James McGovern, Attorney: 202-316-2271; [email protected]
Standard & Poor’s 55 Water Street New York, NY 10041 www.standardandpoors.com Roby Muntoni, Vice President, Standard & Poor's Index Services: 212-438-2196; [email protected] Lawrence Olsen, Vice President, Marketing & Business Development, S&P Indices: 212-438-3553; [email protected]
PRESERVING RETIREMENT SECURITY 33 OUR GRACIOUS SPONSORS
State Street Corporation One Lincoln Street Boston, MA 02111 www.statestreet.com Catherine Williams, Vice President: 312-798-6505; [email protected] Vin DeBaggis, Senior Vice President: 617-664-9574; [email protected]
The Segal Company 1920 N. Street N.W. Washington, DC 20036 www.segalco.com Cathie G. Eitelberg, Senior Vice Preisdent, Director, National Public Sector Market: 202-833-6437; [email protected] Kim Nicholl, Consulting Actuary, National Public Sector Retirement Practice Leader: 312-984-8527; [email protected]
34 NCTR 88TH ANNUAL CONVENTION OUR GRACIOUS SPONSORS
Todd-Veredus Asset Management LLC 101 South Fifth Street, Suite 3100 Louisville, KY 40202 www.toddveredus.com William P. O'Connor, CEBS, Director, Institutional Marketing: 502-814-0114; [email protected] Eddie B. Vandiver, Director, Public Funds Marketing: 601-594-9295; [email protected]
Trust Company of the West 865 S. Figueroa St., Suite 1800 Los Angeles, CA 90017 www.tcw.com Claudia Schloss, CFA, Senior Vice President: 213-244-0048; [email protected] Lisa Higa, Senior Vice President: 213-244-0049; [email protected]
PRESERVING RETIREMENT SECURITY 35 OUR GRACIOUS SPONSORS
UBS Global Asset Management One North Wacker Drive Chicago, IL 60606 www.ubs.com Steve Wilde, CFA; Managing Director: 312-525-7128; [email protected] Betsy Sanders, CAIA, Managing Director: 312-525-7124; [email protected]
Wellington Management Company, LLP 75 State Street Boston, MA 02109 617-951-5000 www.wellington.com
36 NCTR 88TH ANNUAL CONVENTION NCTR EXECUTIVE COMMITTEE 2009–2010
Officers Gary L. Harbin, President Executive Secretary, Kentucky Teachers’ Retirement System Frankfort, Kentucky
Ronnie Jung, President-Elect Executive Director, Teacher Retirement System of Texas Austin, Texas
Peggy G. Boykin, Secretary/Treasurer Director, South Carolina Retirement Systems Columbia, South Carolina
Jeffrey L. Ezell, Past-President Executive Director, Teachers Retirement System of Georgia Atlanta, Georgia
Members Leonard Bumbaca Member, Board of Trustees ERFC—Fairfax County, Virginia Springfield, Virginia
William Finelli Vice-Chairperson, Board of Trustees Employees’ Retirement System of Rhode Island Providence, Rhode Island
Robin Nichols Chair, Board of Trustees Arkansas Teacher Retirement System Little Rock, Arkansas
David A. Stella Secretary, Wisconsin Department of Employee Trust Funds Wisconsin Retirement System Madison, Wisconsin
Jay Stoffel Executive Director, Duluth Teachers’ Retirement Fund Association Duluth, Minnesota
Tom Lee Executive Director, New York State Teachers’ Retirement System Albany, New York
PRESERVING RETIREMENT SECURITY 37
NCTR STAFF
Sacramento Headquarters National Council on Teacher Retirement 7600 Greenhaven Drive, Suite 302 Sacramento, CA 95831 Ph: 916-394-2075 Fx: 916-392-0295 www.nctr.org
Jim Mosman Executive Director [email protected]
Robyn Gonzales Office Manager/Webmaster [email protected]
Leslie Kranz Communications Assistant [email protected]
Don Miller Consultant [email protected]
Washington, DC Leigh Snell NCTR Federal Relations Director [email protected] Ph: 540-333-1015
Convention On-Site Assistants Alice Rafferty Liz Williams
38 NCTR 88TH ANNUAL CONVENTION NCTR COMMITTEES 2009–2010
STANDING COMMITTEES Legislative Dean Kenderdine, Chair, Maryland Roger Rea, Vice Chair, Omaha, Nebraska Susan Brown, Alabama Dana Dillon, California Alexander Ellison, Kansas City, Missouri Fay Kopp, North Dakota Michael Kraus, New York Donna Mueller, Iowa William Murray, Connecticut Pat Robertson, Mississippi Jim Sando, Pennsylvania Dave Senn, Montana James Wilbanks, Oklahoma Dave Stella, Executive Committee Liaison, Wisconsin
Resolutions Marti Zins, Chair, Minnesota Steve Boyers, Vice-Chair, Georgia Horace Coleman, Kansas City, Missouri David Keefe, New York Thaha Menkara, St. Louis, Missouri Michael Smith, Omaha, Nebraska Robin Nichols, Executive Committee Liaison, Arkansas
Credentials Gayle Harbo, Alaska
Nominating Jeffrey L. Ezell, Chair, Georgia Clare Barnett, Connecticut Peggy Boykin, South Carolina William Finelli, Rhode Island Meredith Williams, Colorado
PRESERVING RETIREMENT SECURITY 39 NCTR COMMITTEES 2009–2010
SPECIAL COMMITTEES Administrator Education Jill Bachus, Chair, Tennessee Tom Mann, Kansas City, Missouri Mike Smith, Omaha, Nebraska Meredith Williams, Colorado Rob Wylie, South Dakota Jay Stoffel, Executive Committee Liaison, Duluth, Minnesota
Trustee Education Tina Zubeck, Chair, Missouri Lance Purdy, Vice-Chair, Omaha, Nebraska Michael Hairston, ERFC-Fairfax County, Virginia Gayle Harbo, Alaska Caroline Helmkamp, Kansas City, Missouri Theresa Lochte, Maryland Katha McKinney, St. Louis, Missouri Amy Nichols, Colorado Judy Rigdon, Alabama Mavis Whiteman, Duluth, Minnesota Bill Finelli, Executive Committee Liaison, Rhode Island
NOTE: Pursuant to the NCTR Constitution, the President and President-Elect shall be ex-officio members of all committees.
40 NCTR 88TH ANNUAL CONVENTION NCTR COMMITTEES 2009–2010
CORPORATE ADVISORY COMMITTEE
The National Council on Teacher Retirement recognizes the extreme importance of its Associate Corporate Members. Through annual dues and sponsorships, they help sustain many core NCTR events. NCTR further recognizes that there should be a vehicle for Associate Corporate Members to provide advice and counsel to NCTR’s governance process. The Corporate Advisory Committee serves as that vehicle.
Each member is invited to serve a four-year term. Terms are staggered such that the terms of three members expire each year on December 31st. No member serves two consecutive terms.
A thank you to this year’s participation goes to: Serving through 2010 AllianceBernstein Investment Management Prudential Investment Management UBS Global Asset Management
Serving through 2011 Janus Capital Group Capital Guardian Trust Company State Street Corporation
Serving through 2012 Ice Miller PIMCO Wellington Management Company, LLP
Serving through 2013 Loomis Sayles & Company, LP Cavanaugh Macdonald LLC G.E. Asset Management
PRESERVING RETIREMENT SECURITY 41
NCTR PAST PRESIDENTS 1948–2009
Ray L. Lillywhite Salt Lake City, UT 1948–49 Roy A. Baker Springfield, IL 1979–80 Harvey M. Black Oklahoma City, OK 1949–50 Fred M. Walker Jackson, MS 1980–81 C. B. Murray Albany, NY 1950–51 Charles W. Beattie Omaha, NE 1981–82 George L. Donahoe Jefferson City, MO 1951–52 Joseph P. Natale Denver, CO 1982–83 Richard Hyde Charleston, WV 1952–53 Purvis W. Collins Columbia, SC 1983–84 Robert W. Harper Helena, MT 1953–54 Carleton C. Page Baton Rouge, LA 1984–85 Nathan H. Yelton Raleigh, NC 1954–55 Bill Ware Oklahoma City, OK 1985–86 L.D. Shuter Columbus, OH 1955–56 Pat N. Miller Frankfort, KY 1986–87 Aubrey J. Holmes Springfield, IL 1956–57 Bert D. Hunsaker Salt Lake City, UT 1987–88 Raymond J. Heath Denver, CO 1957–58 David W. Mustoe Jefferson City, MO 1988–89 A.J. Christie Detroit, MI 1958–59 Glen D. Pond Richmond, VA 1989–90 Evelyn Sholund Chicago, IL 1959–60 James C. Baker Kansas City, MO 1990–91 Hoyte R. Pyle Little Rock, AR 1960–61 Gerald Gilbert Atlanta, GA 1991–92 Theron H. Hodges Nashville, TN 1961–62 Frank Ready Santa Fe, NM 1992–93 Viola Suroweic Hartford, CT 1962–63 James Perry Harrisburg, PA 1993–94 Tatum W. Gressette Columbia, SC 1963–64 William C. Walsh Montgomery, AL 1994–95 Philip Wagner Baltimore, MD 1964–65 Scott Engmann Bismarck, ND 1995–96 Leo J. Reynolds Sacramento, CA 1965–66 Steve Curry Nashville, TN 1996–97 Frank M. Jackson Austin, TX 1966–67 Eugene Waschbusch St. Paul, MN 1997–98 Rex T. Wrye Harrisburg, PA 1967–68 Donald S. Miller New York City 1998–99 Kermit D. Farris Tallahassee, FL 1968–69 Tommy C. Beavers Oklahoma City, OK 1999–2000 J. Hugh McKinny Helena, MT 1969–70 Thomas R. Lussier Boston, MA 2000–01 James L. Sublett Columbus, OH 1970–71 John Jensen Omaha, NE 2001–02 E. B. Rogel Olympia, WA 1971–72 Dave Mills Madison, WI 2002–03 Leonard Prewitt Austin, TX 1972–73 George Philip Albany, NY 2003–04 Kenneth A. Davis Santa Fe, NM 1973–74 Karen Kilberg Minneapolis, MN 2004–05 Harvey W. Schmidt St. Paul, MN 1974–75 Clare Barnett Hartford, CT 2005–06 Leonard W. McDonald Bountiful, UT 1975–76 Meredith Williams Denver, CO 2006–07 T.F. Terrell Boise, ID 1976–77 Melva Vogler Harrisburg, PA 2007–08 Harold N. Langlitz Albany, NY 1977–78 Jeffrey L. Ezell Atlanta, GA 2008–09 Wesley H. Rucker Atlanta, GA 1978–79
42 NCTR 88TH ANNUAL CONVENTION CONVENTION ATTENDEES
STATE, CITY, AND Colorado Public Employees' Illinois Teachers' Retirement Association Retirement System LOCAL SYSTEMS Murphy, Scott Cleveland, Jan Nichols, Amy Klickna, Cinda Retirement Systems Williams, Meredith O'Neill, Cynthia of Alabama Williams, Joan Phalen, Molly Brown, Susan Wright, Carole Rupnik, Stan Williams, Frankie Harbison, Teresa Connecticut Teachers' Iowa Public Employees' Saxon, Sharon Retirement System Retirement System Hubbert, Paul Barnett, Clare Cockman, Len Hubbert, Ann Barnett, John Cockman, Lory Reynolds, Marc Murray, William Hudson, Brad Rigdon, Judy Martin, David Twilley, Russell Delaware Public Employees' Retirement System Kansas City, Missouri, Public Alaska Teachers' Vincent, Kim School Retirement System Retirement System Coleman Jr., Horace Harbo, Gayle District of Columbia Collins, Joanne Harbo, Sam Retirement Board Curls, Darwin Trivette, Gayle Marcus, Judith Helmkamp, Caroline Trivette, Samuel Helmkamp, George Duluth Teachers' Retirement Mann, Thomas American Samoa Fund Association Mann, Diana Government ERF Pearson, Tom Rogers, Curtis Judy, Brant Pearson, Theresa Rogers, Von Scanlan, Morris Rigstad, Paul Sunia, Aitofele Stoffel, Jay Kentucky Teachers' Vomachka, Jon Retirement System Arkansas Teacher Vomachka, Deb Barnes, Beau Retirement System Wendling, Deb Harbin, Gary Coleman, Hazel Wendling, Don Harbin, Karen Lemming, Beverly Whiteman, Mavis Morgan, Dr. Jay Lemming, Bob Whiteman, Richard Sterrett, Barbara Morey, Donna Nichols, Robin Fairfax County, ERFC, State Retirement and Virginia Pension System of Maryland California State Teachers' Bumbaca, Leonard Brown, William Retirement System Neville, Mary Jo Dillon, Dana Teachers Retirement Ehnes, Jack System of Georgia Massachusetts Teachers' Plett, Peggy Boyers, Steve Retirement System Boyers, Martha Ruberto, Linda Chicago Public School Dixon, Virginia Schloss, Joan Teachers' Pension and Dixon, Clinton Retirement Fund Evans, L.C. Buster Minnesota Teachers Nelson, Lois Ezell, Jeffrey L. Retirement Association Ward, James Rafferty, Alice Broderick, Mary Gardner, Robert Public Employee Retirement Gendreau, Richard System of Idaho Supple, Mary Drum, Don Zins, Marti Zins-Holt, Mary
PRESERVING RETIREMENT SECURITY 43
CONVENTION ATTENDEES
Public Employees' Retirement North Dakota Retirement South Carolina System of Mississippi and Investment Office Retirement Systems Belue, Virgil Franz, Kim Boykin, Peggy Belue, Aline Latimer, Lowell Robertson, Pat Latimer, Ann South Dakota Retirement System Public School Retirement Teachers' Retirement System Wylie, Rob System of Missouri of Oklahoma Heath, Yvonne Conway, Cathy City of St. Louis Public School Heath, Mike Neptune, Dick Retirement System Hiatte, Mary Neptune, Carol Clark, Andrew Wheeler, Wayne Simpson, Mike Clark, Jr., Joseph Wheeler, Joy Simpson, Kelly Clark, Richelle Yoakum, Steve Smith, James Lawton, Mona Smith, Jodi Mckinney, Katha Montana Teachers Trennepohl, Gary Retirement System Trennepohl, Sandra St. Paul Teachers' Retirement Dubbs, Scott Wilbanks, James Fund Association Senn, Dave Adams, Carol Omaha School Employees' Bogenschultz, Matt Public Employees' Retirement Retirement System Borgeson, Feryle System of Nevada Erikson, Don Brodrick, John Bilyeu, Dana Jensen, Sandy Kunz, John Olsen, David Knutson, Dave Kunz, Robbie Purdy, Lance MacDonald, Christine New York City Board of Rea, Roger McCollor, Mike Education Retirement System Rea, Liz McGuire, Erma Bailey, Christine Ripa, Jim Odegard, Karen D'Amico, Joseph Ripa, Betty Waschbusch, Eugene Rodriguez, Milageros Smith, Mike Waschbusch, Carol Smith, Cheryl City of New York TRS Sophir, Penny Tennessee Consolidated Katz, Marc Tyree, Shirley Retirement System March, Sandra Young, John Bachus, Jill Romain, Mona Oregon Public Employees Teacher Retirement System New York State Teachers' Retirement System of Texas Retirement System Cleary, Paul Guthrie, Brian Corn, Michael Jung, Ronnie Corn, Jan Pennsylvania PSERS Jung, Diann Farfaglia, Paul Sando, James Kelly, David Keefe, David Vogler, Melva Nink, Melinda Kraus, R Michael Sissney, Nanette Kraus, Cheryl Puerto Rico Teachers' Lee, Thomas Retirement System Utah Retirement Systems Salenger, Sheila Mayol, Hector Newman, Robert Virtanen, John Mayol, Annie Rupp, Todd Rupp, Nancy North Carolina Teachers' Employees' Retirement and State ERS System of Rhode Island Moore, Stanley Finelli, William Moore, Frances Finelli, Patricia
44 NCTR 88TH ANNUAL CONVENTION
CONVENTION ATTENDEES
Vermont State Teachers' Advantus Capital Buck Consultants Retirement System Management Cranna, Janet Altemus, Vaughn Messing, John Langer, Larry Altemus, Deborah McConnell, Thomas AllianceBernstein Callan Associates, Inc. McConnell, Jennifer Investment Management Becker-Wold, Janet Carney, Erin Milder, JJ Wisconsin Retirement System Fuller, Vicki Stella, David Smith, Liz Capital Guardian Stella, Kathy Trust Company Artio Global Investors Pretlow, Paula Wyoming Retirement System Flanagan, Brigid Williams, Thomas Cavanaugh Macdonald Atlantic Asset Consulting, LLC. Management, LLC Beckham, Pat EDUCATIONAL McMillan, David Cavanaugh, Thomas Trotter, Donald Cavanaugh, Christine ASSOCIATION Volp, Frederick Garrett, John Macdonald, Ed American Federation of Aviva Investors Macdonald, Donna Teachers Grissom, Victoria Runge, Chris Cheevers & Company Baring Asset Management Bailey, Harry Marshall, Susan RETIRED TEACHER Citigroup Global Markets Barrow, Hanley, Gianni, Silvia ASSOCIATIONS Mewhinney & Strauss, Inc. Liu, John Fitzenhagen, Lin California Retired Teachers Cohen Milstein Sellers Association Becker Burke & Toll, P.L.L.C. Hill, Angelique Associates, Inc. Fite, Dominique Pohl, Howard Hamilton, Rob Texas Retired Teachers Hamilton, Lucy Association Berman DeValerio Mezzetti, Lisa Barnes, Bill Lorant, Richard Lee, Tim Corbin Capital Partners Bernstein Litowitz Crossley, Scott Berger & Grossmann LLP COMMERCIAL Gelderman, Tony Cornerstone Real Estate Malone, David Advisers LLC ASSOCIATES Malone, Deborah Gorham, John Gorham, Linda Abbey Capital Limited Blum Capital Partners O' Donnchadha, Seamus Uher, Paige Credit Suisse Alternative Investments Acadian Asset Management Brandywine Global Wood, Elise Gastler, Jack Investment Management Baran, Douglas Credo Capital Management Accenture Mendoza, Melanie Hawley, Stephen Bridgewater Associates Whidden, Joel Deloitte Consulting Bauer, Patrick Sweeny, David
PRESERVING RETIREMENT SECURITY 45
CONVENTION ATTENDEES
EFL Associates Icon Integration Lotsoff Capital Management Hobson, Mary Rust, Rob Triveline, Don Thibault, Michael Extend Health, Inc. LRS PensionGold Harkins, Robert INVESCO, Inc. Retirement Solutions Nohai, Jill Ellis-Beckham, Dyice Dillahunty, Max Wheeler, Richard Katalinich, John Janus Capital Group Fred Alger Management Inc. Bitzer, Todd Lussier, Gregor, Vienna Meskiewicz, Paul Gross, Chad & Associates, Inc. Schrock, David Lussier, Thomas FTSE Americas Pollard, Betty Walton, Paul J.P. Morgan Pollard, Sharon Asset Management Gabriel, Roeder, Smith Damon, Joel Mesirow Financial & Company Fox, Jeffrey Jordan, Linda Conradi, Chris Murphy, Stephan Conradi, Pat Stebbins, Charles Milliman Koss, Jim Olleman, Mark Zorn, Paul K2 Advisors Hernandez, Joe Munder Capital Management GE Asset Management, Inc. Welling, Nancy Eisenhardt, Paul KBC Asset Management Runge, Paul International Ltd. Neuberger Berman Blake, Geoff Barnes, William Grosvenor Capital Mitrovich, Christopher Management Knight Equity Markets Reynolds, Carter McGarvey, Patrick Sutter, Christa New Amsterdam Partners Grosvenor Investment L. R. Wechsler, Ltd. Lubell, David Management US. Inc. Lott, Ben Callantine, Doug Pacific Investment Lazard Asset Management Management Hamilton Lane Advisors Dote, Tony Company (PIMCO) Stephenson, Napoleon Dote, Patricia Clarke, James Gray, Kevin Henderson Global Investors Lee Munder Capital Group Perry, Jim McDonough, Daniel Doi Aoyagi, Tamara Perry, Barb
HGK Asset Management, Inc. Lockridge Grindal Pathway Capital Management Lakefield, Jennifer Nauen P.L.L.P. Sands, George Lockridge, Richard Holland Capital Management Riebel, Karen Perkins Investment King, Valerie Management Loomis, Sayles Thompson, Peter Humana Inc. & Company, L.P. Jones, Anne Averill, William PineBridge Investments Koeniger, Chuck Cuerington, Andre Ice Miller Sullivan, Kevin Braitman, Mary Beth Lord Abbett Clingerman, Katrina Savage, James
46 NCTR 88TH ANNUAL CONVENTION
CONVENTION ATTENDEES
PricewaterhouseCoopers State Street Corporation Waddell & Reed Fraterrigo, Cindy Williams, Catherine Asset Management Group Roy, Denis Johnston, Clayton T. Rowe Price Group Progress Investment Brooks, L. Wellington Management Management Company Newman, Chris Company, LLP Gaines, Adrienne Grant, Zander The Bank of New York Mellon Settles, David Provaliant Retirement, LLC Jannetta, Tim Masci, Jay Wentworth, Hauser & Violich The Segal Company Ballert, Miriam Prudential Financial Inc. Eitelberg, Cathie Romrell, Jeffrey Myers, Kevin Nicholl, Kim Taggart, Peter PAST PRESIDENTS The Williams Capital (Not otherwise registered) Putnam Investments Group, L.P. Kilberg, Karen Thieme, Elizabeth McClearin, Arthur Mills, Dave Mills, Terri Pyramis Global Advisors The Yucaipa Companies Pond, Glen Curran, Sue Sparkes, Horatio Pond, Joan Greenwood, Arthur Ready, Frank TIAA-CREF Ready, Rosina Raymond James Crane, Roderick B. & Associates Hanson, Caren Spence, Ray GUESTS OF NCTR Spence, Cindy Todd-Veredus Allen, Adrienne, CII Asset Management Beavers, Verda Robbins Geller Rudman OConnor, William Suttle, Gerrie & Dowd LLP Scott, Curtiss Chambers, Glenda, NASRA Gamble, Bruce Scott, Mary Sue Goodwin, Syble Menon, Ruby Vandiver, Eddie Goodwin, Robert Rothschild Asset Trust Company of the West NCTR STAFF Management Inc. Higa, Lisa Gonzales, Robyn Guice, Deirdre Schloss, Claudia Kranz, Leslie Miller, Don Sagitec Solutions UBS Global Miller, Sue Adair, Jeff Asset Management Mosman, Jim Lytle, Shawn Cabias, Caroline Siguler Guff & Company Martin, Kitty Snell, Leigh Keough, Michael Sanders, Betsy Wilde, Steve Spector Roseman Kodroff & Willis, PC Victory Capital Management Attendees as of 9/13/10. McGovern, James Calcagno, Jack Willis, Mark Dy, Dan
Standard & Poor's Wachovia Global Lazzara, Craig Securities Lending Muntoni, Roby Menard, John
PRESERVING RETIREMENT SECURITY 47 GROUND LEVEL ONE Escalator to San Antonio Ballroom LEVEL THREE LOBBY
Elevator to San Antonio Ballroom Join us next year for our 89th Annual Convention at the Baltimore Hilton in Baltimore, Maryland October 9–13, 2011
National Council on Teacher Retirement 7600 Greenhaven Drive, Suite 302 Sacramento, CA 95831 Phone: 916-394-2075 Fax: 916-392-0295 www.nctr.org
NEXT STOP BALTIMORE