Wednesday, June 20, 2018

PRB and TEXPERS recognizes pension hero Bob May

TEXPERS Executive Director Max Patterson, left, congratulated and thanked Bob May, center, during the June 14 Pension Review Board meeting for May's decades of service to public employees across Texas on the PRB. May helped the Texas Legislature establish the PRB and developed its various guidelines and recommendations since the 1980s. TEXPERS first vice president Jim Smith, right, was on hand also to deliver TEXPERS gratitude to May who has now retired his position. Smith is with the San Antonio Fire and Police Pension Fund.

By Joe Gimenez, Guest Contributor

Bob May, one of the founding fathers of the Texas Pension Review Board, was recognized at the state agency’s quarterly meeting June 14 for his decades of service to Texas public employees and their retirement plans. 

May announced his retirement in February pending the governor’s appointment of a replacement. 

“Bob has been involved with the Pension Review Board from its inception in one way or another, at one time even serving as its actuary when that position was unfilled,” said Max Patterson, executive director of the Texas Association of Public Employee Pension Systems, during the meeting. “He has attended our conferences and been instrumental in participating in our training programs. In recognition of his performance and participation with TEXPERS, we want to recognize his service.”

Patterson offered May a TEXPERS trophy of recognition. Josh McGee, the PRB chairman, similarly recognized May’s contributions and presented him with a plaque.

The inscription on the plaque: “Whereas Mr. Robert May has participated in PRB meetings since the year of the agency’s inception giving his input and offering his knowledge, and whereas the state pension review board has been highly honored to have Mr. May among its members since his appointment in 2013 until 2018, and whereas Mr. May served with distinction in his role since his appointment to the Board actuarial position…the Board extends deepest gratitude and appreciation to Mr. May for his devoted service and exemplary leadership and wish him the very, very best for his future. Thank you, Mr. May.”

May’s involvement with the PRB started in 1979 when he assisted Texas Rep. Bill Blythe in drafting the actuarial provisions of the bill which created the state monitoring agency. In the 1980s, he participated in developing the PRB’s first guidelines for actuarial soundness. In 2010 and 2011, May gave testimony to the PRB’s Actuarial Committee regarding suggested changes to the guidelines, which were adopted in 2011. In 2013, Gov. Rick Perry appointed May to the Board of which he has served as the chairman of the PRB’s Actuarial Committee.

May has been a principal of the actuarial firm Rudd and Wisdom, Inc., since 1968 and had clients including state, statewide, and local defined benefit pension plans in Texas and Louisiana. He also provided litigation support services as a forensic economist determining economic damages in personal injury and wrongful death cases.

May’s position has been filled by Marcia Dush, a member of the Board of Actuaries for the Military Retirement System and Education Benefits Fund the U.S. Department of Defense. She is an enrolled Actuary with the U.S. Department of the Treasury. Gov. Greg Abbott made the appointment.

Author Bio: Joe Gimenez is a business management and communications counselor to business unit directors for Fortune 500 companies and public employee pension funds for the past 20 years. His clients include TEXPERS, San Antonio Fire and Police Pension Fund, Houston Firefighters’ Relief and Retirement Fund, Microsoft, Capgemini, Dell, Eli Lilly, and others. He has a Master’s degree from George Mason University in International Trade and Transactions. 

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