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Stanton begins final contract with El Paso Firemen & Policemen’s Pension Fund

Stanton begins final contract with El Paso Firemen & Policemen’s Pension Fund
Courtesy Powers Media Works
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Tuesday, April 22, 2014 - 2:05pm

After 13 years of service to the El Paso Firemen & Policemen’s Pension Fund, Executive Director Robert J. Stanton will leave the Fund when his new contract expires in October 2015.

Stanton’s contract was signed Monday after recent negotiations and approval by the El Paso Firemen & Policemen’s Pension Fund board of trustees. He will help the Fund transition to new leadership after training two new incoming employees, the chief financial officer and the deputy executive director.

Tyler C. Grossman, chair of the El Paso Firemen & Policemen’s Pension Fund board of trustees, said, “The Fund and the firefighters and police officers we serve are grateful for Bob Stanton’s continued service and for his commitment to a seamless leadership transition during the next 15 months.”

When Stanton joined the Fund in 2001, the Fund assets totaled about $350 million and now stand at more than $1.2 billion. During his tenure, the Fund negotiated new contracts for custodial and benefit payments, saving millions in fees; developed its first plan document and pension administration system; initiated and renegotiated a security lending program to increase portfolio returns or offset portfolio expenses with a manageable level of risk; established bylaws, communications, indemnification, and disclosure policies; established a principles of fiduciary conduct and governance policy; and acquired an office building.

Stanton said, “I look forward to working with our board of trustees and staff to build on the recent momentum the Fund has achieved and to continuing helping ensure the long-term financial security of El Paso public safety personnel.”
 

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