Paul Doane Appointed to Pension Oversight Agency

2007 MAR - Harwich Republican Is Former State Senator - One of outgoing Governor Mitt Romney’s appointments which we wholeheartedly agree, was the naming of Paul Doane to fill a seat on the Public Employee Retirement Administration Commission (PERAC), the state’s key pension oversight agency. Doane’s term will run until October 29, 2010.

This particular seat on the seven-member commission calls for a
person who had worked in the investment field for at least 10 years to
be appointed by the governor. A number of appointees had held the seat,
none of whom had any real affinity with public sector employees or
retirees.

On the other hand, Doane knows first-hand what the public sector
is all about at both the state and local level. He had once served as
town moderator in the Cape community of Harwich which is where he still
lives. He was a state senator representing the Cape and Island District
from 1981 until 1989. At that time he did not seek reelection and
instead returned to the private sector as a senior trust officer with
State Street Bank.

In June 1991, he was appointed executive director of the
Commonwealth’s Pension Reserves Investment Management (PRIM) Board
where he served until October 1993 when he resigned to take a
management-level job with Oppenheimer Capital, a New York-based
financial service board. He is now a senior vice-president.

Association President Ralph White says that Mitt Romney did
“something right” a month before leaving office in appointing Doane.
“As a senator with the minority party, Doane was well respected by both
sides of the aisle.

“At the PRIM Board he was credited with restoring dignity to an
agency that had been undergoing upheaval,” said White, a PRIM Board
member. “He has deep respect for those who work in the public sector
and retirees.”

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