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Governor appoints ERB board member

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SANTA FE – An Albuquerque-area investment adviser has been named by Gov. Susana Martinez to a board overseeing the state pension system for educators.

Larry Magid of Sandia Park will serve a term on the Educational Retirement Board ending June 30, 2017. He replaces Delman Shirley, whose term had expired.

Magid has a bachelor’s degree in economics from the University of Oklahoma.

The seven-member board of trustees oversees a $10 billion pension fund and sets policies for the retirement system covering about 37,000 retirees and 61,000 workers, ranging from public-school teachers and principals to college faculty.

The governor appoints two members of the board. Groups representing retirees, educational employees and university workers elect three members.

The state treasurer and secretary of public education also serve on the board.

 

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