Today (4/23/19) SLOCEA Vice President, Jim Mallon, presented the Board of Supervisors with a petition on behalf of more than one thousand SLO County employees https://t.co/L0spNyVgtq https://t.co/dtukj8GZtj
INTRODUCING JUSTIN HANSEN
The Pension is one of the important benefits of working for the County. The Pension Trust Board members have a fiduciary responsibility to ensure the pension is there for those who have retired already, those nearing retirement and those of us who are just starting out on the journey.
However, like many areas of the County, the Pension Trust Board is another area dominated by management who have a long history with the County and don't quite understand the struggles that a Tier 3 pension employee has when first starting with the County or how the average employee of any tier views the system. The Board needs a fresh perspective and I am the one to provide it.
When I first came onboard with the County I remember having to call the Pension Trust to discuss how much would be pulled from my check per pay period for my pension contribution. This was nearly a deal breaker for me as it would be a clear pay cut from the current position I was in, but I decided it was worth it and the pension definitely is worth it. However, since that time, like many of you that contribution percentage has increased each of the last three years I have been with the County and rumors are it is increasing again. It is time to look into why during such a great market, our Pension Plan is not keeping pace, and requiring these constant increases.
Unlike many members of this illustrious board past and present, I can not claim to have a solid background in the financial world. I have never been an accountant or Auditor, but as a Buyer and a Certified Professional in Supply Management (CPSM), I am familiar with all the topics just from the other side of the coin. In my personal financial life I am striving to FIRE, which stands for become Financially Independent and Retire Early if I can (with 3 kids I don't see the retire early every happening). It is a concept based on the teaching of Jack Bogle, Benjamin Graham and other value investors. The philosophy aims to minimize fees for investing, while safely maximizing returns so the resources are there for when you need them. It is a philosophy that melds perfectly with the goals of the Pension Trust.
I hope you, too, feel the Pension Trust Board could use a new perspective and I look forward to serving you to the best of my abilities.
Justin Hansen, CPSM Buyer II - Central Services 805-781-5906