Full Text of SR0067 103rd General Assembly
SR0067 103RD GENERAL ASSEMBLY |
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| 1 | | SENATE RESOLUTION
| 2 | | WHEREAS, The members of the Illinois Senate wish to | 3 | | congratulate Executive Director Richard White on the occasion | 4 | | of successfully overseeing the transition of the Illinois | 5 | | Police Officers' Pension Investment Fund (IPOPIF); and
| 6 | | WHEREAS, Richard White has spent over 40 years in public | 7 | | service as a sworn law enforcement officer, serving and | 8 | | protecting citizens, businesses, and property with dignity and | 9 | | honor; and
| 10 | | WHEREAS, During his career, Richard White also served as a | 11 | | trustee for the Orange County Employees Retirement System | 12 | | (OCERS) in California for nine years, where he managed an | 13 | | administrative budget of 11 million dollars and a pension fund | 14 | | of 10 billion dollars; and
| 15 | | WHEREAS, Richard White then served as the president of the | 16 | | State Association of County Retirement Systems (SACRS), | 17 | | representing over half a million participants and | 18 | | beneficiaries throughout the State of California with the | 19 | | combined assets of 110 billion dollars; and
| 20 | | WHEREAS, After retiring from law enforcement, Richard | 21 | | White served as the administrator for the Mendocino County |
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| 1 | | Employees Retirement Association (MCERA) in California, where | 2 | | he managed a pension fund with a budget of $800,000 and $440 | 3 | | million in assets; he retired from public service in | 4 | | California in 2014; and
| 5 | | WHEREAS, In June of 2020, Richard White returned to public | 6 | | service and was hired as the executive director of the | 7 | | Illinois Police Officers' Pension Investment Fund (IPOPIF) to | 8 | | oversee the development of the newly created consolidation of | 9 | | 357 different pension funds; and
| 10 | | WHEREAS, Richard White prepared a strategic plan to bring | 11 | | the consolidated funds together, writing policies and | 12 | | procedures and developing requests for proposal (RFPs) for all | 13 | | facets of the pension fund, including investments, legal | 14 | | requirements, and administrative positions that would be | 15 | | needed; and
| 16 | | WHEREAS, Richard White spoke with various service | 17 | | providers and sought expertise to develop a team to bring the | 18 | | assets under management; he educated the IPOPIF Board of | 19 | | Directors on hiring staff and the development of the systems | 20 | | needed for this undertaking; he also located and created an | 21 | | office space for the future of the fund; and
| 22 | | WHEREAS, Richard White worked with other government |
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| 1 | | entities, speaking with legislators, union officials, and | 2 | | pension boards across the State in an effort to garner trust, | 3 | | faith, and the cooperation of all parties; and
| 4 | | WHEREAS, Richard White traveled across Illinois to meet | 5 | | with pension trustees, beneficiaries, and participants to give | 6 | | them full confidence in his abilities to oversee and manage | 7 | | this process, always taking the time to speak at union and | 8 | | pension conferences and to meet with leaders and local boards | 9 | | without hesitation while simultaneously creating this newly | 10 | | consolidated fund; and
| 11 | | WHEREAS, Richard White led the IPOPIF Board and his team | 12 | | through issues related to the COVID-19 pandemic and | 13 | | litigation, ensuring things would be completed and done | 14 | | correctly in the best interest of all parties; his dedication | 15 | | required working many late nights, weekends, and on holidays | 16 | | to meet the legislative deadline; and
| 17 | | WHEREAS, Richard White spearheaded the largest pension | 18 | | consolidation in the nation, working with 357 different | 19 | | pension funds and a net value of 9 billion dollars, an | 20 | | undertaking that had never been done to this size and scale; | 21 | | and
| 22 | | WHEREAS, Because of his experience, education, and |
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| 1 | | leadership, Richard White was able to lead this endeavor | 2 | | through the most challenging times while maintaining his | 3 | | patience and professionalism and never losing focus of the | 4 | | goals and objectives of the IPOPIF; therefore, be it
| 5 | | RESOLVED, BY THE SENATE OF THE ONE HUNDRED THIRD GENERAL | 6 | | ASSEMBLY OF THE STATE OF ILLINOIS, that we congratulate | 7 | | Executive Director Richard White on successfully overseeing | 8 | | the transition of the Illinois Police Officers' Pension | 9 | | Investment Fund (IPOPIF), and we thank him for his hard work | 10 | | and dedication to this endeavor; and be it further
| 11 | | RESOLVED, That a suitable copy of this resolution be | 12 | | presented to Richard White as a symbol of our esteem and | 13 | | respect.
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