Pension officials and investment managers from Contra Costa County and other counties spent retirement-plan funds for a trip to Hawaii, The New York Times, reported on Nov. 21, 2010.The purpose of the trip, which took place last week, was to review aspects of retirement plans for county workers.
According to the Times, “About 4,500 investment managers, public pension trustees and administrators attended the event at the Hawaii Convention Center.”
The Times said among those attending the Hawaii event were ” . . . some trustees and a top administrator who oversee multi-billion dollar retirement funds for Alameda, Contra Costa and San Francisco Counties.”
The Times said: “Contra Costa trustees have no overall cap [on travel expenses].”
According to the Times, “John Gioia, a Contra Costa pension trustee and chairman of the county’s Board of Supervisors, agreed that ‘there are clearly some conferences that add value.’ “