EL PASO, Texas, Sept. 16, 2015 -- The board of trustees of the El Paso Firemen and Policemen’s Pension Fund unanimously approved Tyler C. Grossman as the organization’s incoming executive director today.
Mr. Grossman, the current president of the $1.2 billion Fund’s board of trustees, was among three finalists presented to the board after an independent national search managed by Denver, Co.-based EFL Associates. He will replace outgoing executive director Robert J. Stanton, who announced he would leave the Fund when his employment contract expires next month.
Search committee chair Jerry J. Villanueva, a Fund trustee, said, “The board’s unanimous vote reflects our confidence that Tyler Grossman will build on the Fund’s recent momentum and help ensure the long-term financial security of El Paso public safety personnel. He has extraordinary organizational skills and management experience, and a proven ability to work with our board, members, and elected officials in El Paso and at the state legislature.”
A lieutenant in the El Paso Police Department, Mr. Grossman has served as a Fund trustee since 2000, except for two years of service in Iraq as a military contractor. He holds a bachelor of science degree in criminal justice administration from Park University and a master’s degree in business administration from the University of Texas at El Paso. He currently serves as second vice president of the Texas Association of Public Employee Retirement Systems (TEXPERS).
Fund trustee Carmen Arrieta-Candelaria said, “Our board was presented with strong candidates, but Tyler Grossman was best qualified to lead the Fund staff going forward. His service to and support of the Fund have been excellent. He has an effective management style and a consistent record of professional successes – with the El Paso Police Department, in support of the military in Iraq, and with the Fund.”
Mr. Grossman, who will retire from the police department as soon as possible, said, “I look forward to this new opportunity with the Fund and am grateful for the support of the board of trustees, our firefighter and police officer members, and my family. Like our other board trustees, I also want to recognize Bob’s service to the Fund and a long list of accomplishments made for our members.”
When Mr. Stanton joined the Fund in 2001, assets totalled about $350 million and they now stand at more than $1.2 billion. In recent years, 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 and opened an office building which saves the costs of escalating office lease expenses in El Paso.
In 2014, TEXPERS ranked the Fund among Texas’ top-three pensions plans in a closely watched measure of average yearly returns over long-term investing horizons. The Texas Pension Review Board also recognized the Fund’s extremely low administration costs and its good standing in all aspects of pension-governing state statute 6243b.
EFL Associates Vice President Daniel J. Cummings and Research Associate Christine Stearns of EFL Associates consulted on the search. Mr. Grossman recused himself from search activities after announcing his interest in the position.
About the El Paso Firemen & Policemen’s Pension Fund
Created in 1920, the El Paso Firemen & Policemen’s Pension Fund provides retirement, survivor, and disability benefits to the uniformed public safety employees of the City of El Paso. The Fund has two divisions, a Policemen’s Fund and a Firemen’s Fund. An 11-member Board of Trustees and administrative staff manage both divisions. The board includes three elected firefighter trustees, three elected police trustees, three mayor-appointed trustees, and two city manager-appointed trustees. Trustees volunteer and are not compensated for their time in service to the Fund.