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Search For Pension System Administrator In Ventura County Remains Stalled

Posted on Tuesday, January 24, 2012 2:49pm

Wanted: Executive to oversee pension fund in Ventura County.

Salary: $170,000 in base pay.

It sounds like pretty good money to most of us, but it’s not getting takers in the specialized world of pension fund managers.

The Board of Retirement ended its second unsuccessful search to find a manager for Ventura County $3.1 billion dollar pension system.

As good as the $170,000 salary might sound to most of us, some potential pension fund administrators have turned the job down over the salary issue.

Trustees are now going to continue the search informally, interviewing candidates who didn’t go through the past search efforts.

The post has been vacant since last January, when Jim Thonis quit when efforts to raise his pay, and the pay of some other top staffers failed.

His compensation package had been in the quarter of a million dollar range.

The County’s pension system is a hot political issue in the county, because of the financial impacts compensation packages have had on the overall county budget.

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