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Orange County Retirement Board

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CALIFORNIA | LOCAL
February 1, 1996 | SHELBY GRAD
Investment banker Chriss Street has been appointed to the Orange County Retirement Board, which oversees the investments of more than 20,000 current and retired government workers. Street raised concerns about the investment practices of former Treasurer Robert L. Citron several months before the county filed for bankruptcy on Dec. 6, 1994 after a municipal investment pool run by Citron lost $1.6 billion of its value.
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CALIFORNIA | LOCAL
July 17, 1998 | LORENZA MUNOZ, TIMES STAFF WRITER
An appellate court has denied the county's request to halt retroactive pension payments to its retired workers, upholding a lower court's ruling from earlier this week. On Thursday, the 4th District Court of Appeals rejected the county's request for an injunction on the payments, which range from $60 to $500 annually per retired county worker. On Monday, a Superior Court judge also denied the county's request to halt the payments.
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CALIFORNIA | LOCAL
June 16, 1991
What on earth is going on here? I would think the most obvious way for the Orange County Retirement Board to save money on trips (to Hawaii, Europe, etc.) is to look for investments right here at home. They should never have to leave Orange County to find plenty of promising real estate projects, businesses, or other worthy investments. CAROLYN SHANNON JENKINS, Huntington Beach
CALIFORNIA | LOCAL
May 28, 1998 | LORENZA MUNOZ, TIMES STAFF WRITER
The county counsel's office said Wednesday it has sought a court order to block the Orange County Retirement Board from paying as much as $20 million in retroactive pension benefits to county retirees. The county contends that the board has not properly considered its action and that payments for three years' worth of back pension benefits might be illegal and could cause problems down the road.
CALIFORNIA | LOCAL
June 30, 1991
The debate over the performance of the Orange County Retirement Board is disgusting, particularly those comments made by Supervisor Roger R. Stanton and those other so-called investor fund experts. Stanton has called for the creation of a separate board of investments, composed of people with hefty investment experience, and placing this new board and the current board executive officer under the direct authority of the County Board of Supervisors. What a laugh. I hasten to point out the supervisors' most recent brilliant management successes--construction of the airport terminal, the solving of the jail problem, the illegal seizing of Rancho del Rio and trying to sell it for development rather than making it a drug training center, as Sheriff Brad Gates and the U.S. attorney's office say they are legally required to do. As for Mary Jean Hackwood, retirement administrator, and the entire retirement board, it seems to me that they are guilty of committing three unforgivable sins: 1. They earned too much money last year for our pension fund, 15%, which is more than any other county pension fund in the state.
CALIFORNIA | LOCAL
November 8, 1996 | SHELBY GRAD
The Orange County Retirement Board is scheduled to select a new administrator today for its $2.6-billion pension fund. The system, which handles the pensions of more than 20,000 current and retired government employees, has been without a permanent administrator since January, when the board dismissed Mary-Jean Hackwood. Hackwood was accused of abusing her authority by demanding that employees run personal errands for her.
CALIFORNIA | LOCAL
February 15, 1996 | SHELBY GRAD
The Orange County Retirement Board voted this week to appeal a Superior Court judge's ruling that struck down an attempt by the panel to reduce the pensions of two former San Juan Capistrano officials who are accused of improperly calculating their retirement benefits. The case involves James S. Mocalis and E. Phillip Hale, who served as top administrators of both the city of San Juan Capistrano and the Capistrano Valley Water District before retiring in the mid-1980s.
CALIFORNIA | LOCAL
May 14, 1996 | SHELBY GRAD
The Orange County Retirement Board on Monday moved a step closer to approving a plan to reduce the amount of money the county contributes to the $2.9-billion employee pension system. The county wants to cut its contribution, which last year totaled $59 million, in a bid to reduce costs in the wake of its bankruptcy. County officials stressed that such a move would have no effect on the pensions of more than 20,000 current and retired government workers who use the system.
CALIFORNIA | LOCAL
February 21, 1996 | SHELBY GRAD, SPECIAL TO THE TIMES
The Orange County Retirement Board will meet Thursday to review its handling of beleaguered former administrator Mary-Jean Hackwood, who was accused of abusing her authority by forcing employees to run personal errands. The meeting comes a month after the board voted to demote Hackwood to portfolio manager and rent a separate office for her in an effort to reduce contact with other pension system employees.
CALIFORNIA | LOCAL
February 23, 1996 | SHELBY GRAD and MICHAEL G. WAGNER, SPECIAL TO THE TIMES
The Orange County Retirement Board on Thursday fired former administrator Mary-Jean Hackwood, who was demoted a month ago after being accused of forcing employees to wrap her Christmas presents, wash her car and water her house plants. The 6-3 vote to terminate Hackwood from her $97,760-a-year job came after a closed session of the board that lasted nearly three hours. Hackwood, who previously has denied the allegations through her attorney, did not attend the meeting.
CALIFORNIA | LOCAL
March 11, 1998 | ESTHER SCHRADER, TIMES STAFF WRITER
Public defenders and prosecutors sued the Orange County Retirement Board on Tuesday, saying its recent decision to raise pension benefits for county employees doesn't go far enough. The lawsuit filed in Orange County Superior Court by the county Attorney's Assn. seeks increased compensation for association members, including payments that are based on vacations and sick leave.
CALIFORNIA | LOCAL
November 8, 1996 | SHELBY GRAD
The Orange County Retirement Board is scheduled to select a new administrator today for its $2.6-billion pension fund. The system, which handles the pensions of more than 20,000 current and retired government employees, has been without a permanent administrator since January, when the board dismissed Mary-Jean Hackwood. Hackwood was accused of abusing her authority by demanding that employees run personal errands for her.
CALIFORNIA | LOCAL
September 10, 1996 | SHELBY GRAD
Seven months after being fired amid charges that she abused her authority, former Orange County employee retirement system administrator Mary-Jean Hackwood has filed a claim with the pension board. Hackwood, who was accused of forcing employees to wrap Christmas presents, wash her car and run other personal errands, has not worked since the pension board placed her on leave in December, according to her attorney, Cameron Smith.
CALIFORNIA | LOCAL
May 14, 1996 | SHELBY GRAD
The Orange County Retirement Board on Monday moved a step closer to approving a plan to reduce the amount of money the county contributes to the $2.9-billion employee pension system. The county wants to cut its contribution, which last year totaled $59 million, in a bid to reduce costs in the wake of its bankruptcy. County officials stressed that such a move would have no effect on the pensions of more than 20,000 current and retired government workers who use the system.
CALIFORNIA | LOCAL
April 9, 1996 | SHELBY GRAD, SPECIAL TO THE TIMES
In a bid to boost bankruptcy recovery efforts, the county is expected within the next month to seek a reduction in the amount of money it contributes to the employee retirement system. The issue was discussed Monday by the Orange County Retirement Board, which received a report by an actuarial consultant who analyzed how a reduced contribution from the county would affect the $2.9-billion retirement fund.
CALIFORNIA | LOCAL
March 12, 1996 | SHELBY GRAD, SPECIAL TO THE TIMES
In another long and at times contentious meeting, the Orange County Retirement Board on Monday debated several issues concerning the retirement system's relationship with the county. Under a state law designed to protect public employee pensions, retirement systems are considered separate entities from the counties they serve. Though some retirement panel members are appointed by the Board of Supervisors, they are supposed to act in the best interest of the pensioners.
CALIFORNIA | LOCAL
April 9, 1996 | SHELBY GRAD, SPECIAL TO THE TIMES
In a bid to boost bankruptcy recovery efforts, the county is expected within the next month to seek a reduction in the amount of money it contributes to the employee retirement system. The issue was discussed Monday by the Orange County Retirement Board, which received a report by an actuarial consultant who analyzed how a reduced contribution from the county would affect the $2.9-billion retirement fund.
CALIFORNIA | LOCAL
February 23, 1996 | SHELBY GRAD and MICHAEL G. WAGNER, SPECIAL TO THE TIMES
The Orange County Retirement Board on Thursday fired former administrator Mary-Jean Hackwood, who was demoted a month ago after being accused of forcing employees to wrap her Christmas presents, wash her car and water her house plants. The 6-3 vote to terminate Hackwood from her $97,760-a-year job came after a closed session of the board that lasted nearly three hours. Hackwood, who previously has denied the allegations through her attorney, did not attend the meeting.
CALIFORNIA | LOCAL
February 21, 1996 | SHELBY GRAD, SPECIAL TO THE TIMES
The Orange County Retirement Board will meet Thursday to review its handling of beleaguered former administrator Mary-Jean Hackwood, who was accused of abusing her authority by forcing employees to run personal errands. The meeting comes a month after the board voted to demote Hackwood to portfolio manager and rent a separate office for her in an effort to reduce contact with other pension system employees.
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