(1) The Director of the Fund shall serve at the pleasure of the Board, which shall fix his annual base salary at a minimum of Eighty Thousand Five Hundred Eighty Dollars ($80,580) and a maximum not to exceed the base salary assigned for I Maga’lahen Guåhan.

(2) The Director of the Fund shall be responsible for the planning, organizing, and administering the operations of a multi-billion dollar pension system under the laws, policies and programs as established by acts of I Liheslaturhan Guåhan and under the policy guidance and direction of the Board of Trustees, and shall perform such other and additional duties as the Board may require.

(b) The Director of the Fund shall have the necessary knowledge, skills, and abilities to include:

(1) thorough knowledge of the general principles of management and supervision, particularly as they apply to public administration;

(2) considerable knowledge of the general principles of fiscal management, including knowledge of auditing and accounting requirements;

(3) considerable knowledge of actuarial, insurance, and investment principles and practices;

(4) considerable knowledge of pension system, both
Federal and Local Systems;

(5) ability to plan, organize and direct the works of others;

(6) demonstrated oral and written communication skills;

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(7) ability to analyze, interpret and clearly covey to others, complex financial, statistical, actuarial and other technical information, and to take action or to make recommendations on such data;

(8) ability to establish and maintain positive communication and effective working relationships with administrative officials, legislators, consultants, Board Trustees, system employees, both active, inactive and retired members of the Fund, public employee organizations and the general public;

(9) a Bachelor’s degree in Business Administration, Finance, Accounting, Economics, Public Administration, or closely-related area; and at least seven (7) years of diverse management experience in the administration of a public or private pension system; or a Master’s Degree in Business Administration, Finance, Accounting, Economics, Public Administration, or closely-related field, and at least five (5) years of diverse management experience in the administration of a public or private pension system.

SOURCE: GC § 4222; amended by P.L. 14-154 (Dec. 18, 1978) and P.L.
18-005:2 (May 28, 1985); amended by P.L. 28-068:IV:72 (Sept. 30, 2005).

2018 NOTE: Subsection/subitem designations added/altered pursuant to authority granted by 1 Guam Code Ann. § 1606.

§ 8140.1 Deputy Director of Fund.

The Director of the Fund may employ, with the consent of the Board, a Deputy Director with an annual base salary of a minimum of Sixty-six Thousand Three Hundred Sixty-four ($66,364) and a maximum not to exceed the base salary assigned for the Lieutenant Governor of Guam. The Deputy Director shall serve at the pleasure of the Director and the Board, and his duties shall be determined by the Director.

SOURCE: Added by P.L. 28-068:IV:73 (Sept. 30, 2005).